Monex Europe: muted sterling reaction after UK hung parliament no surprise

By | June 19, 2017

Theresa May: the prime minister lost her majority in parliament in last week’s general election


Sterling’s reaction to UK Prime Minister Theresa May losing her parliamentary majority in last week’s general election was rather muted, unlike the large drop seen a year ago in the wake of the referendum over membership of the European Union, says Ranko Berich, head of market analysis at Monex Europe, which topped FX Week’s three-month forecast table last week.

“I think [the subdued reaction] is because there’s already a great deal of political uncertainty and econo

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