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Is The British Pound Still Falling? Election Brings Uncertainty To English Currency

Is The British Pound Still Falling? Election Brings Uncertainty To English Currency”

Many analysts were reminded of the controversial British PM, Margaret Thatcher.

The British currency lost as much as three cents against the US dollar by Friday as the results confirmed exit poll predictions that Prime Minister Theresa May had failed in her gambit to gain a stronger majority for those Brexit talks.

"But she now has to turn her focus immediately back to the Brexit negotiations while presiding over an angry and restive party and with serious doubts as to whether she will lead the party into the next election, whenever it takes place", he said. The people's choice in France and Denmark has set the direction of the government through their verdict.

The results of the general election are being seen as a Brexit mandate, with most of the constituencies against Brexit turning out to vote against the Tories and for Labour, which has a softer stance on the issue, and other anti- Brexit parties. The BBC reports that the Tories lost 12, while Labour-the party of Corbyn-gained 29. Three British women of Bangladeshi origin have also done very well on the Labour ticket and we congratulate them on their win. "This is a major disaster for her personal authority over the country and the Conservative Party, particularly because she made this election all about her "strong and stable" leadership", Jane Merrick wrote for CNN.

But with her authority diminished, May risks facing more opposition to her Brexit plans from both inside and outside her Conservative Party, and some colleagues may be lining up to replace her.

An exit poll has projected that Prime Minister Theresa May's Conservative Party will win the biggest share of seats in Britain's Thursday election but could fall short of a majority in Parliament.

Final results gave May's Conservatives 318 seats to 262 for the Labour Party, led by Jeremy Corbyn.

Britain's best-selling Sun newspaper said senior members of her party had vowed to get rid of May, but would wait at least six months because they were anxious that a leadership contest now could propel Labour leader Jeremy Corbyn into power.

But her campaign unravelled after a policy U-turn on care for the elderly, while Mr Corbyn's old-school socialist platform and more impassioned campaigning style won wider support than anyone had foreseen.

Theresa May has apologised for the election result.

May became prime minister after David Cameron, who had campaigned against Brexit, stepped down following the referendum, in which 52% voted to leave the 28-nation EU. For a General Election ostensibly called because of Brexit, discussions were limited to which leader was trusted to deliver it, rather than what "it" would look like. While this would avoid a prolonged period of coalition talks, the terms of the agreement are unclear and another election in the near term is possible.



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