Nothing upsets the markets quite like uncertainty.
Following the hung parliament of the election, one of the first things to be affected were the Sterling exchange rates, which went into a sudden and severe plunge as the results of the vote became clearer.
Starting off Thursday 1 Sterling to 1.15526 Euro, it dropped to 1.13394 last night, with the worst of it far from over, as it continued to drop this morning, to a low of 1.13068.
While the significant 2% drop will be felt for days to come, it does appear that it will plateau out in the coming days until an actual decision is made.
With many calling for May’s resignation, the potential for a softer-than-expected Brexit could lead to a more stable pricing for GBP in the not-too-distant future.
