Pound surges after exit poll predicts huge Tory majority
Sterling jumps two cents against US dollar after exit poll predicts Conservative majority of 86
The pound has surged after exit polls showed Boris Johnson’s Conservatives were on track for the biggest majority in more than 30 years, as investors in the City bet the outcome would lift some of the intense political uncertainty hanging over the British economy.
Immediately after publication of the exit poll, which showed the Tories were on track for a majority of 86, sterling jumped by more than two cents against the US dollar to trade at about $1.35 on the international money markets. That was the highest level for the pound since May 2018. The pound also rallied strongly against the euro, gaining by a similar amount to €1.21.Continue reading...