Pound surges as Conservatives sweep to election win

Boris Johnson at Number 10

The Conservative Party has won a crushing majority in the General Election, sending the pound soaring to a 19-month high.

The Tories powered to victory with 362 seats, giving the party the largest majority it has had since Margaret Thatcher’s reign.

Sterling jumped 2.2% to $1.34 – its highest point since May 2018 – on hopes that a majority government would finally remove the uncertainty surrounding Brexit.

Prime Minister Boris Johnson, who retained his seat in Uxbridge with 25,351 votes, said the Conservative government “has been given a powerful new mandate, to get Brexit done”.

Johnson has vowed to take the UK out of the EU by January 31, 2020.

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