Boris Johnson’s Conservative Party has secured a majority in the House of Commons after winning their 326th seat, and is likely to win 363 seats in Parliament, a gain of 45 seats from the 2017 election.
That would be the best results since it won 376 seats under Margaret Thatcher in 1987, giving Johnson a comfortable parliamentary majority to win backing for his Brexit deal and leave the EU by the end of next month.
While that reduces a significant amount of Brexit uncertainty, the U.K. could still have a hard exit from the single market and customs union at the end of 2020 if the two sides don’t manage to strike a trade agreement.
What about U.S. trade? “Britain and the United States will now be free to strike a massive new Trade Deal after BREXIT,” President Trump wrote on Twitter. “This deal has the potential to be far bigger and more lucrative than any deal that could be made with the EU.”
Sterling is trading at $1.3474, more than 2.4% higher, while FTSE 100 futures are up 0.2%.