UK exit polls are shocking by showing no absolute majority for the Conservatives in an election that was supposed to be a landslide.

GBP/UDS is crashing nearly 2% to the 1.27 handle. However, this may be a buying opportunity:

  • Trading volume is thin: So, the reaction is exaggerated
  • Exit polls underestimate the Tories: Real results could put them at 326 or higher
  • A coalition could lead to a softer Brexit, especially if the Lib Dems are inside.

    • Here is the chart

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