Home / Business / The Telegraph declare : Pound suffers worst day this year, as it wallows at $1.27 after shock election vote; FTSE 100 charges higher

The Telegraph declare : Pound suffers worst day this year, as it wallows at $1.27 after shock election vote; FTSE 100 charges higher

collected by :John Locas

as mentioned in

The 2017 general election has resulted in a hung parliament – throwing the UK’s plans to leave the European Union into disarray.
Turkey has tariff-free access to most of the single market, but its customs union agreement means it has to slap tariffs on non-EU trade.
The UK could also conduct trade under World Trade Organisation rules, but would face tariffs on imports.
The “Swiss” option – based on a multitude of bilateral trade deals – would grant partial access to the single market in exchange for a smaller EU budget contribution.
But what are the other options available to the UK if it steps back from a clean break with the EU?

As it stated in

The 2017 general election has resulted in a hung parliament – throwing the UK’s plans to leave the European Union into disarray.
Turkey has tariff-free access to most of the single market, but its customs union agreement means it has to slap tariffs on non-EU trade.
The UK could also conduct trade under World Trade Organisation rules, but would face tariffs on imports.
The “Swiss” option – based on a multitude of bilateral trade deals – would grant partial access to the single market in exchange for a smaller EU budget contribution.
But what are the other options available to the UK if it steps back from a clean break with the EU?

Pound suffers worst day this year, as it wallows at $1.27 after shock election vote; FTSE 100 charges higher

As it stated in

Pound sinks but FTSE 100 climbs after shock election result

By the time trading began in London hours, it was clear that a hung parliament was inevitable.
Pound tumbles but FTSE 100 rises as hung parliament spooks the City – business live Read moreThe City was wrongfooted by the election result, which was expected to return an increased majority for May rather than the hung parliament declared just before the London markets opened.
The pound slumped and shares in major banks, housebuilders and construction companies tumbled after the shock election result raised questions over the pace of Brexit talks and prospects for the UK economy.
For analysts at UBS there were concerns about the impact of the election result on the economy.
While sterling’s weakness pulled up the FTSE 100, which gained around 40 points, or 0.5%, it failed to cushion the domestically focused FTSE 250, which fell by almost 1%, or 180 points.

Pound sinks but FTSE 100 climbs after shock election result

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