(BBG) Pound Slumps as U.K. Exit Poll Shows Tories Losing Majority

(Bloomberg) — The pound slumped as an exit poll projected that the ruling Conservative Party would fall short of an overall majority in the U.K. snap election.
Sterling fell to the lowest since April after Prime Minister Theresa May’s Conservative Party was projected to win 314 seats, short of the 326 required for a majority. Labour was
projected to take 266 seats, according to an exit poll. Opinion polls suggested a tighter race in the run-up to the vote, spurring concerns of a hung parliament and a slide in sterling.
The pound fell 1.5 percent to $1.2762 as of 10:06 p.m. London time on Thursday.