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Pound falls sharply but UK shares rise after election night

GBPUSD News by Newsroom on 04:50 June 09, 2017 EST

The pound has dropped overnight by 2% and trades at round $1.27, reflecting worries about continued political uncertainty.

Against the euro, the pound was down 1.7% and trades on Friday morning at €1.1350.

However, shares on international British companies benefit from the weaker pound and trade higher at the opening of the London session. The benchmark FTSE 100 index up 0.9% at 7,515.31.