UK election: Tories on track for a massive majority, take Redcar, Burnley, Ynes Môn and Ipswich

Dhwani Mehta FXStreet

As per the latest vote count, The Tories have taken Redcar, Burnley and Ynes Môn from Labour, as well as West Bromwich West and Bishop Auckland.

Also, Tories have taken the marginal Ipswich seat from Labour, with Swing - Lab to Con (+6.4).

The Press Association quotes Conservative sources, claiming they have taken the Labour-held seat of Wakefield.

“Mary Creagh is a senior Labour backbencher and was chairwoman of the environmental audit select committee in the last Parliament. Wakefield is a Tory target and it would take a 2.35% swing to win”, according to the Press Association.

Its going to be a miserable defeat for Labour Party in the UK election, with a potential 110 seats majority expected for Boris Johnson’s party.

So far, results for nearly 200 seats have been declared in the UK polls.

The GBP/USD pair traverses in a 60-pips range over the last few hours, as markets await the full and final outcome to confirm a Tories win. At the time of writing, the spot is reversing to 1.3470 following another attempt above the 1.35 handle.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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