The market is expecting big moves in the pound on the election results
The pound may be keeping more calm for now but this reveals the underlying nature and risks associated to the currency as we look to digest the election results later today.
Cable is still sitting just above the 1.32 handle for now as traders are waiting with bated breath for the polling stations to close before moving on to the exit polls. As a reminder, the exit polls in 2017 hinted at a hung parliament result and true enough that happened.
As such, if they point to another hung parliament this time around, expect pound to find itself in a similar situation to someone jumping out of a plane with a burning parachute.
