Rolling coverage as the financial markets react to the Conservative Party’s election triumph, and a breakthrough in the trade war
After the shock of the exit poll at 10pm, the City is calmer now, so many traders are heading home to bed.
There were a flurry of trades after Johnson was confirmed to have held his seat in the constituency of Uxbridge & Ruislip South, but it didn’t move the dial on sterling.
Starting to see the morning change-over, with at least one trader coming in a bit early Colleagues recap the night, saying it was busy at 10pm but tapered off. They continued to watch closely because “you never know,” one trader muses, remembering the EU referendum
Traders across the City have been working through the night, reacting to the election results.
My colleague Kalyeena Makortoff is at ETX Capital, where staff have relied on a diet of pizza, Sky News and Twitter to get them through the night.
A handful of traders are working through the night on the ETX Capital trading floor, though most seem pretty relaxed given that sterling has been holding on to its gains at around $1.348 following the exit poll pic.twitter.com/KJdtEr1NmY
“We’ve seen an increase in sterling against other majors but not going to have a massive negative effect on the FTSE.
Yes, we may see a drop-off in the FTSE in the morning, but not going to be as aggressive as the movement in sterling.”
Read more: theguardian.com