This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.rt.com/business/475776-uk-brexit-election-pound/

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Pound soars to 19-month high as Tory win moves UK closer to BREXIT British stocks soar, pound jumps to 19-month high as Tory win moves UK closer to BREXIT
(about 1 hour later)
The British pound surged on Friday after the Conservative Party of Boris Johnson won a solid majority in the general election to end years of Brexit uncertainty.The British pound surged on Friday after the Conservative Party of Boris Johnson won a solid majority in the general election to end years of Brexit uncertainty.
The pound soared 2.3 percent to $1.34 against the US dollar, which is its highest level since May 2018. It also recorded a 3-year high against the euro to €1.21.The pound soared 2.3 percent to $1.34 against the US dollar, which is its highest level since May 2018. It also recorded a 3-year high against the euro to €1.21.
The currency had been rising steadily in recent weeks as traders bet on Prime Minister Boris Johnson’s win.The currency had been rising steadily in recent weeks as traders bet on Prime Minister Boris Johnson’s win.
The euro was also trading higher on Friday, up 0.40 percent at $1.12.The euro was also trading higher on Friday, up 0.40 percent at $1.12.
The FTSE 100 Index is expected to be relatively flat at the start of trading, with futures pointing a fraction of a percent higher, according to data from ETX Capital. British stocks on the FTSE 100 index jumped nearly two percent at the start of trading, with main European indices pointing higher.
Berenberg Bank senior economist Kallum Pickering told CNN that a clear victory for Johnson should mean a boost for the UK economy, which has ground to a halt in recent months. GDP growth could rise to 1.8 percent in 2020 from 1.3 percent this year, before accelerating further to 2.1 percent in 2021, he said.Berenberg Bank senior economist Kallum Pickering told CNN that a clear victory for Johnson should mean a boost for the UK economy, which has ground to a halt in recent months. GDP growth could rise to 1.8 percent in 2020 from 1.3 percent this year, before accelerating further to 2.1 percent in 2021, he said.
The Tories passed the majority threshold, garnering 363 seats in Parliament. This means that Boris Johnson will return to Downing Street with a mandate to “get Brexit done” and lead the UK out of the EU next month.The Tories passed the majority threshold, garnering 363 seats in Parliament. This means that Boris Johnson will return to Downing Street with a mandate to “get Brexit done” and lead the UK out of the EU next month.
For more stories on economy & finance visit RT's business sectionFor more stories on economy & finance visit RT's business section