While stock markets remain comfortably numb to any and every potential (and actual) geopolitical earthquake, FX markets are getting very anxious…

Polls showing the Conservative Party has lost its comfortable lead have increased uncertainty over today’s U.K. election and investors are now paying the price.

As Bloomberg notes, overnight volatility in the pound against the dollar surged to its highest reading since the aftermath of the Brexit vote last year, resulting in a stiff premium for those looking for a last-minute hedge.

Anything but a wide Tory win may result in short-term turbulence for the pound.