The British pound has slumped again touching a fresh low for the day of US$1.269 shortly after 12.30pm.
A strong Conservative majority win had been viewed as putting the UK in a stronger position to negotiate Brexit, while a hung parliament increases political uncertainty.
The pound had been trading about US$1.2950 and fell below US$1.2750, its lowest levels since the announcement of the snap election in April
An exit poll has projected that Prime Minister Theresa May's Conservative Party will win the biggest share of seats in Britain's election but could fall short of a majority in Parliament.
That result would be humiliating for May, who called a snap election in the hope of increasing her majority and strengthening Britain's hand in exit talks with the European Union.
