General Election 2019:Markets show cheer in reaction to exit poll result
The pound has been a bit tentative during the day as various rumours were going around.
But immediately when the exit poll was announced, it was up, up, up and away.
The prediction of a smaller majority may have left Boris Johnson at behest of factions in his party.
But this gives the PM room for manouvre to get things through the Commons.
The most disruptive form of a no-deal Brexit was taken off the table with Boris Johnson getting some form of deal.
That is why the markets seem to be showing cheer.
But it may be different as some more results come through.