The British pound fell sharply Thursday after an exit poll suggested Prime Minister Theresa May's Conservatives could lose their majority after losing seats in the general elections.

The British currency was trading at $1.2751, down 1.5 percent from the day-before level. 

An exit poll released shortly after the vote ended showed conservatives were set to win 314 seats -- a loss of 16 -- followed by Labour on 266 -- a gain of 32 -- the Scottish National Party on 34 and the Liberal Democrats on 14.