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

With a new government more likely to go for a softer Brexit, the lack of a big sell-off is nothing shocking, says broker

Theresa-May_PA-Images-credit.jpg
Theresa May: the prime minister lost her majority in parliament in last week's general election
Yui Mok/PA Wire/PA Images

CLICK HERE TO VIEW THE PDF

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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: