British PM Theresa May's statement in Downing Street

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TCdowning street180417

A Downing Street spokesman said that the Prime Minister will visit Buckingham Palace at 12.30pm on Friday to speak to the sovereign.

With talks of unprecedented complexity on Britain's departure from the European Union due to start in just 10 days' time, the pound sterling was hit by uncertainty over who would form the next government and over the fundamental direction Brexit would take.

May's party took the most parliamentary seats - 318 - in the UK's snap election that she called in April, but it failed to secure enough support to form a majority government, falling short of the required 326 parliamentary seats.

After winning his own seat in north London, Corbyn said May's attempt to win a bigger mandate had backfired.

She said she would form a government with the Conservatives "our friends in the DUP" that would provide "certainty" for all of the United Kingdom and deliver Brexit.

It is believed that if the DUP agree to this proposal, the administration will be formed through an informal arrangement.

May pledged that "fairness and opportunity would be at the heart of everything we do" and that her government would fulfil the promise of Brexit together.

"What the country needs now more than ever is certainty", May said. He also claimed it is "pretty clear who won this election" and that "the party that has lost in this election is the Conservative Party".

With the party in a position to hold the balance of power at Westminster, senior MP Sir Jeffrey Donaldson said the DUP would be "serious players" in the hung parliament, telling the BBC: "This is ideal territory for the DUP because obviously if the Conservatives are just short of an overall majority it puts us in a very strong negotiating position and certainly that is one we would take up with relish".

She's expected to remain as Prime Minister.

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