NEW YORK: The British pound fell sharply Thursday after an exit poll suggested Prime Minister Theresa May´s Conservatives could lose their majority after losing seats in the general elections.

The British currency was trading at $1.2751, down 1.5 percent from the day-before level.

An exit poll released shortly after the vote ended showed conservatives were set to win 314 seats — a loss of 16 — followed by Labour on 266 — a gain of 32 — the Scottish National Party on 34 and the Liberal Democrats on 14.