Pound swings as UK leader calls for early election

Posted online April 18, 2017 | 10:39 am

United Kingdom Prime Minister Theresa May called for an early election, causing the pound to swing wildly on Tuesday.

Against the U.S. dollar, the pound dropped by nearly 1 percent. However, as May spoke during the surprise announcement, the pound reversed and entered positive territory.

May is asking for a June 8 election. That's less than halfway through the government's five-year term.

The prime minister said the early election would strengthen her hand in negotiations in Brexit talks.

Read more from CNNMoney.

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