Sterling to plummet if Tories lose majority

Sterling will take a beating if markets have got their bets wrong on the outcome of the UK election, economists have predicted.

The currency desks of Irish banks plan to remain open late into the night in case of an upset that sees Theresa May’s Conservative Party losing its majority in the Commons.

In a briefing called “Mayday for markets?”, economists at Capital Economics in London said that “the biggest casualty should the Conservative Party underperform at the polls and fail to secure a majority would probably be sterling.”