The British pound has suffered a drastic fall since the data was published at the foot of the ballot box. With the first official results, the British currency loses more than 2% against the US dollar.
According to market data, the sterling rate was lowered from 1.2956 to 1.2759 dollars. In addition, futures contracts in the FTSE 100 index also fell by 0.39%.
Theresa May called the elections to “strengthen its political position and like this be able to negotiate in a stronger and direct” the ‘Brexit’ with the European Union.
However, those results at the foot of the ballot box indicate that the Prime Minister is now “weakened” and so this “compromises” their political position.
Furthermore, the position of Theresa May was harmed by the mobilization of the young people, who are against the ‘Brexit’. Also, the pro-European forces “have tried to take revenge by trying to remove the majority from May.”
Theresa May has called the snap election to strengthen her hand in “Brexit” negotiations, to get more time to deal with the impact of the know divorce and also to strengthen her grip on the Conservative Party.
She doesn’t generously beat the 12-seat majority Cameron won in the year 2015, May’s electoral gamble will have failed and so her authority could be undermined just as Theresa tries to deliver what she has told voters will be the successful “Brexit”.
If Theresa May fails to get an overall majority, then she would be forced to strike a new deal with another party in order to continue governing or as a coalition or in other case as a minority government.
That would raise a big question about the future of “Brexit”, Britain’s $2.4 trillion economy and British policy on a some range of issues including the corporate taxation and British government spending and also Â borrowing.
Many of the best Top 10 conservative Intraday Forex Managed Account Asset Managers have tried to be out of the Forex market during this time to preserve safely the Managed funds under their management.