UK snap election called for 8th June

The UK Prime Minister, Theresa May, will be presenting a motion to the House of Commons tomorrow to call a snap general election on the 8th of June. May has accused the UK's other political parties of jeopardising the outcome of Brexit negotiations and argued that calling an election now will help provide stability throughout the next few years. Sterling saw some volatility following the announcement but ultimately rebounded above pre announcement levels. The FTSE 100 has begun to extend earlier losses and could be expected to see increased volatility in the run up to the election.