The UK election came in pretty much as expected:
- UK exit poll tips a solid win to Labour, 410 seats - new UK government incoming
- GBP is little changed after the UK election exit poll
- UK political stability (relative to elsewhere) will support UK markets ahead
- Election result gives green light to August BoE rate cut - GBP to drift lower
While the above all refer only to the exit poll its very unlikely to be too far from the final results.
Official counts are dribbling in, with just a few seats decided. A cascade of results will come in the hours ahead.
GBP update, not a lot going on with the result well telegraphed in the weeks prior to the election:
A mover is the crypto complex, BTC/USD is down around USD57K and looking precarious.
Meanwhile, we await the US jobs report:
- Preview: June non-farm payrolls by the numbers -- the headwinds are starting to blow
