The pound is stronger against both the euro and the dollar this morning as political risks have subsided following the local elections. The main focus for the markets was the Scottish elections. The SNP failed to achieve an outright majority; however, Nicola Sturgeon has told the Prime Minister that a referendum for Scottish independence is a case of “when not if”.
After poor election results, the Labour Party has announced a reshuffling of its shadow cabinet this morning. Meanwhile, the results of the Police and Crime Commissioner election are due to be announced later today.
The Prime Minister is expected to announce the next stage of easing restrictions today, with six people or two households allowed to meet indoors from May 17.
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