GBP/USD Spikes as Poll Project Large Election Win for Boris Johnson

General Election Analysis & Talking Points

• Boris Johnson Majority Expected by UK Exit Polls

Sterling soars to Fresh 2019 High in reaction to Conservative Win

GBP/USD has spiked higher by over 2% in reaction to the UK Exit Poll, which projects a larger than expected majority for the Conservative party of 368 seats. As such, a majority of this size will pave the way for a smooth Brexit process with Boris Johnson able to pass his deal through parliament (December 20th had been touted as a potential voting day) with ease and take the UK out of the EU at the end of January.

UK Exit Poll Projects Larger than Expected Conservative Majority

Conservatives: 368 (+50)

Labour: 191 (-71)

Lib Dems: 13 (+1)

Brexit Party: 0

SNP: 55 (+20)

Green Party: 1 (unchanged)

Other: 22

GBPUSD PRICE CHART: 1-MINUTE TIME FRAME (INTRADAY)