Market update 13/12/19

Market update 13/12/19

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Sterling soars after Conservatives win majority

The pound has rocketed against the euro and US dollar following the announcement that the Conservative Party have won a commanding majority at yesterday’s General Election. With the votes still being counted, the Tories are seen to have a majority of over 70 seats following the vote. 

Investors have welcomed the news for providing clarity as it is assumed that Prime Minister Boris Johnson will be able to pass his Brexit deal through Parliament. This would remove some of the uncertainty that has clouded Brexit and the pound for the last few years.

 

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