Pound surges after exit poll predicts huge Conservative majority after U.K. election

Sterling Jumps Through 1.20 vs. Euro and 1.34 vs. Dollar on Exit Poll Showing Sizeable Conservative Majority.

The pound is surging after exit polls suggested an 86-seat majority for Boris Johnson’s Conservative Party.

The poll, which is still only a prediction, has the Conservatives winning 368 seats and Labour suffering heavy losses and having 191 seats.

Sterling GBPUSD, +2.2410% surged close to 2% after the polls came in at 10pm GMT - reaching $1.3467. The results themselves will trickle in over the next few hours but if Conservatives secure such a majority it would give Johnson the ammunition to get a Brexit deal through Parliament.

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