Pound trades in a tight chop as voters head to the polls.
A million polls have virtually guaranteed a hung Parliament but even in the weeks leading up to the election, it's been tough to tie moves in the pound to the polls. There's talk about EU referendums and more worries about Scottish independence but my rule of thumb is that elections are always overhyped and the changes are never as dramatic as voters (or markets) believe.
Listen to the fear-mongering in the latest Reuters story on the pound.
"Britons voted on Thursday in the tightest election for decades; one that could cause government gridlock, push the world's fifth-largest economy closer to leaving the European Union and stoke a second attempt by Scotland to break away."
...
Cameron said only his Conservatives could deliver strong, stable government: "All other options will end in chaos," he insisted.
Give me a break.
