Australian dollar runs riot on BoJo win

See the latest Australian dollar analysis here:

Only the property crash can sink Australian dollar now

Who said polling was dead. One UK exit poll and it’s chaos:

Here we go. The polls have closed, and vote counting has started.

Before we get the official results, we can dissect the massive BBC/ITV/Sky exit poll, which was released moments ago.

It predicts a majority government for Boris Johnson’s Conservative Party, with 368 seats to Labour’s 191, the Scottish National Party’s 55 and the Liberal Democrats’ 13.

That would translate to a staggeringly large Tory majority of 86.

If the poll is correct, the Conservatives will gain 50 seats and Labour will lose 71.

The usual caveats apply, but this particular exit poll has a reputation for being remarkably accurate. It has correctly predicted the result in four of the last five elections.

At the last election, for example, it predicted 314 seats for the Conservatives and 266 for Labour. The actual result was 317-262.

Brexit to go ahead and global reflation is go, apparently…

It’s an AUD shorts pukethon:

David Llewellyn-Smith

Comments

  1. The left are being rejected all over the world for their immigration policies.

    Sadly in Australia, rejecting Labor doesn’t result in lower immigration.

    Something has to change.

    • HadronCollisionMEMBER

      Is it as simple as that in the UK though?

      Was it that simple in AU? I mean, the LNP is running a reduced immigration agenda with what I would call reverse gusto. I/e it’s not.

    • The change I would like to see is Labor become a party of the left or it become the Left Right Out Party.

    • Nah, this was a Brexit election. They voted for it. They want it done. I think there was a lot of “hold your nose and vote Tories” to get it done. Plus Corbyn is an entirely uninspiring prospect.

      • The Brexit vote WAS a migration vote. So is Gillette Gaunes.

        Australia is not in recession and avoided the GFC – next recession who ever promises to attach migration wins – simples.

        Most people have not really recovered from the GFC – it never touched Australia – that is the difference.

      • Corbyn was what done them, too many woke policies, though there are plenty who think BoJo will slow immigration by adopting the Aussie points system, Poms are so dumb!

        Well at least we’ll have some company as we slide down the world economic rankings together.

      • rob barrattMEMBER

        Correct. Mind you, describing Corbyn as merely uninspiring is something of an understatement. To quote a very accurate appraisal:
        “A committed socialist, he once saw Hugo Chávez’s Venezuela as a model for parties of the left in the west. Now the country has fallen into poverty under Chavez’s successor, Nicolás Maduro.
        Mr Corbyn has been all but silent. Scarcely a whisper of condemnation of the abuses documented by organisations such as Human Rights Watch and Amnesty International; not a hint of solidarity with the protesters who have filled the streets of the Venezuelan capital demanding Mr Maduro’s departure. Instead, the Labour leader has joined hands with Russia and China in condemning many of Venezuela’s Latin American neighbours, several European governments and the US for recognising the opposition leader Juan Guaidó as interim president. “The future of Venezuela is a matter for Venezuelans”, Mr Corbyn says. “We oppose outside interference in Venezuela, whether from the US or anywhere else.
        To put it bluntly, Mr Corbyn comes from a hard left ideological tradition that has never lent much weight to individual liberty. This brand of socialism counts tractor production figures ahead of what its supporters regard as bourgeois measures of personal freedom.”
        Reminds me of all the socialists who visited Stalin’s Russia and never said a word about what they must have felt when they saw or sensed the reality. More than a hint of narcissism there.

        • The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries.

    • Scummo has cut the immigration rate to 160,000/year.

      Kristina Kinnealey wants to raise it to 250,000/year:

      The vibrants do not vote for the ALP:

      Labor’s 2019 share of the primary vote was its lowest in 85 years.

    • Same goes in the UK. The “””conservatives””” are smart enough to pretend immigration isn’t happening and if they acknowledge it, grudgingly say that it’s necessary. The stupid leftists celebrate it and call for more. It makes no difference who you vote for but attitude rules the day while there’s a closed shop.

  2. – Bojo wins in landslide for soft-brexit
    – Trump signs trade deal
    – Fed announce $365 billion of liquidity for one month alone
    – HK what? Everyone forgot about that

    HO HO HO!

        • Well, it’s not going to be a soft brexit (staying in the single market/customs union) which is what I replied to

          And Farage wanted no exit deal or transition – that may still happen at end of transition period if no trade deal agreed.

  3. The loony left think they’re a majority because they dye their hair green and shriek a lot. Ooops!

  4. People now vote for Personalities, no policies. That’s the problem. Exactly how Brexit is good for the $AUD I’m not sure?

    Every election so far has just ensured the continued inflation of asset prices and screwing of the young.

    • Yen, Dxy, US10’s, Vix all down. NZD, AUD, CAD, Indices all up.
      Risk On – Gold hanging on by it’s fingernails!

  5. I’m looking forward to a HnH essay on The End of Globalisation, preferably with a big side of Car Industry thingy.

  6. TailorTrashMEMBER

    Looks like another “labour “ leader is going to get his ar$e handed to him by the “populists “
    ….they just won’t learn …

    • also MSM in UK was openly hostile to Labour in order to protect the establishment and that may rally Labour supporters to protect JC. From memory the Labour leader is elected by the members and not by a committee.
      Will be interesting to see what happens.

  7. according to exit polls SNP is going to win 55 of 59 seats in Scotland (up 20 seats)
    I don’t think it will take long before Scotexit happens

  8. I just don’t get it. People get shafted by the 0.1% and they keep voting them (their proxis) into office. In UK people have proper Labour leader and they still vote against Labour. wtf? Ok, immigration I get it but in UK Labour have everything else right – policy wise.

    • They simply want Brexit done first and foremost.

      After it happens, the people will get to express their disappointment in a post-Brexit world and might vote Labour.

  9. ‘Corbyn not Brexit’ Labour MP

    These idiots, like our idiots, are completely delusional.

    There’s only one way to get our country back. Destroy the Labor party.

  10. was making my second coffee for the day (yes, 2 coffees per day and no hart palpitations since I took redundancy) and had Bloomberg channel on. All I was hearing is how bad Corbin is and constant pressure for Labour to remove him. This tells you if he really is for the people or not.