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Hardy: UK election - FX reaction
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John Hardy, Head of FX Strategy at Saxo Bank, gives his reaction to the outcome of the general election in the UK. David Cameron's Conservative Party has emerged as the 'winner' with Labour beaten soundly in Scotland and the Liberal Democrats, previous colaition partners, being almost wiped out.
Markets have reacted favourably with EURGBP standing out as the main measure of a Sterling bounce. Cable made gains but could settle and nonfarm payrolls later today could change everything if a strong number is printed.