The first three declarations of real results from the UK elections have shown a significant swing toward Prime Minister Boris Johnson’s Conservative Party. The outcome seems to confirm the exit polls, which showed a massive 86-seat win for the Tories.
GBP/USD initially hit a high of 1.3514 before correcting to around 1.3460 and is now on the rise again.
The Conservative Party gained one seat from Labour while the opposition party has clung to two seats but with substantially smaller majorities. The seats are in the Northeast.
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GBP/USD weekly chart showing the massive upswing:
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