Pound slumps on hung parliament

28 July, 2011


The Pound’s recent gains have been wiped out this morning as the UK election produced a hung parliament.

Those of you buying Euros or US Dollars have seen rates fluctuating up to 5c since the early hours of the morning.

This could spell the end of sterling’s recent rise, depending on how quickly a government is formed and how stable the markets perceive the resultant deal.