The pound, gilts and equities all came under huge selling pressure yesterday as traders — already punch-drunk from Thursday’s violent convulsions on Wall Street — digested the news that Britain had elected a hung Parliament for the first time in 36 years.
Sterling, which had risen to $1.4935 against the US dollar after early results pointed to big swings from Labour to the Conservatives, fell as low as $1.4478 once it became clear that no party would have an overall majority. more...
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The pound, gilts and equities all came under huge selling pressure yesterday as traders — already punch-drunk from Thursday’s violent convulsions on Wall Street — digested the news that Britain had elected a hung Parliament for the first time in 36 years.
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