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Pound reacts as YouGov model raises chances of hung parliament

The pound fell sharply on the heels of a YouGov model showing that the Conservative party could lose 20 seats in the upcoming election.

Sterling lost 0.43 cent to take it to $1.28 against after the release the YouGov estimate — based on modelling done by a pollster — which shows that Theresa May’s Conservative party could lose 20 seats and Jeremy Corbyn’s Labour party could pick up 30 seats, raising the chances of a possible hung parliament, with no party claiming a majority.

The FT’s poll tracker can be found here.