Pound plummets on risks of a hung parliament


Has May lost her majority?

The pound tumbled today following a new poll showing the risk of a hung parliament in next week’s General Election.

Sterling crashed below $1.28 in early trading against the US dollar after a YouGov research in The Times pointed that the Conservatives’ majority is in danger.

Figures showed Theresa May’s party might lose 20 of the 330 seats it holds while Labour could gain nearly 30 seats.

That means Tories may face a shortfall of 16 seats for the overall majority of 326 needed.

Earlier this year, the news of a snap election boosted the pound from less than $1.26 to above $1.29 in one day.