The pound is still suffering from its post-election dip

pulse

June 12, 2017 8:01 AM

Normal service has resumed on Monday however, and the currency is down more than 0.6% against the greenback by 1.45 p.m. BST (8.45 a.m. ET).

LONDON — The pound is continuing its post-election fall on Monday, dropping below the $1.27 during early afternoon trade.

Sterling dropped sharply on Thursday evening after the exit poll initially showed that no party would win a majority in the House of Commons and resumed its sharp slide in early trade in London on Friday morning after it became clear that the election had returned a hung parliament.

However, after news broke that May would visit the Queen and seek to form a new government, the currency stabilised, and the market remained calm after she officially confirmed that she will lead that government.

Normal service has resumed on Monday however, and the currency is down more than 0.6% against the greenback by 1.45 p.m. BST (8.45 a.m. ET). Its losses since the night of the election have now surpassed 2.2%.

Here is the chart:

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