The United Kingdom general election took place on 8 June 2017 after British PM called a snap election for a mandate to negotiate its Brexit deal with EU. Each of the 650 parliamentary constituencies elected one Member of Parliament to the House of Commons, the lower house of Parliament. The result of the Election gave a hung parliament without any single party getting more than 50% of the seats. Conservative party came first with 318 seats which is 48.9% . It will form the government in coalition with some other parties.
The election result should be disappointing to Theresa May as if Conservative party had got an absolute majority, she definitely would have negotiate for a hard brexit from EU. After the result of the election was known, Pound took a dive from 1.293 to 1.263 and lost some 2% of the currency value. Now, market has to wait and see how BOE will respond to the changing economic and geopolitical issues.
The election result should be disappointing to Theresa May as if Conservative party had got an absolute majority, she definitely would have negotiate for a hard brexit from EU. After the result of the election was known, Pound took a dive from 1.293 to 1.263 and lost some 2% of the currency value. Now, market has to wait and see how BOE will respond to the changing economic and geopolitical issues.
