British pound has been in focus in the last day or two but definitely since exit poll correctly implied what in the U.K. is called a hung parliament. Instead of strengthening her hand, as she hoped, PM Theresa May will instead need to form a coalition government.

Cable gapped about 200 pips lower immediately after the release and extended the decline to more than 300 pips by the time London opened for business. The pair has been basically trading sideways ever since the gap but in a volatile fashion with sellers having the upper hand. Hopefully next week will bring more clarity.

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