British pound tumbles as UK election gamble fails

British pound tumbles as UK election gamble failsThe pound plunged Friday as Prime Minister Theresa May’s Conservatives lost its parliamentary majority in Britain’s general election, fuelling political uncertainty just days before the start of Brexit talks. May had called Thursday’s snap vote in a bid to boost her Conservative party’s hold over parliament and give her a stronger hand in upcoming talks with EU leaders over the country’s detachment from the bloc. “The FTSE was up… as sterling fell after the Conservatives lost their majority in the Commons,” said Russ Mould, investment director at stockbroker AJ Bell.

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