[B]The indeterminate UK election outcome has crushed sterling.[/B] It fell 2% against the US dollar in the morning after the election on Thursday. It was off closer to 3% against the euro. The hung parliament has created additional uncertainty at a time when the European debt crisis is taking the headlines and creating anxiety in the markets. The pound move through daily support but bounced to close very close to it.
William Pars
Exto Capital