Pound jumps above $1.31 to seven-month high on expectation of Conservative majority
Share:
LONDON (Reuters) - Sterling surged above $1.31 on Wednesday for the first time since early May, boosted by growing expectations that Britain will avoid a hung parliament after next week's election and a broader pullback in the U.S. dollar.Forecasts that the ruling Conservatives will win an outright majority, removing some of the political uncertainty that has weighed on the currency, has encouraged investors to move back into the pound - pushing it past key technical barriers."In terms of cable..