Pound Drops as U.K. Exit Poll Unnerves Investors: Markets Wrap
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Sterling Seen as Vulnerable to U.K. Vote
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The pound tumbled the most since October and the yen advanced as a note of caution spread across financial markets after an exit poll showing the U.K. faces a hung parliament rekindled political uncertainty in Europe.
Sterling dropped 1.6 percent to $1.2748 as of 6:53 a.m. in Tokyo, after the ruling Conservative Party was projected to win most seats, though fall short of an overall majority, according to an exit poll. The yen strengthened slightly, while S&P 500 futures fell 0.2 percent.