The value of pounds increased against the dollar after it was noticed that the Conservative party is set to get success in general elections 2019.
According to details, an increase in the value of Sterling pounds is seen after the trend of the election showed that the conservative party is winning against Brexit.
Pounds gained 2.7% to $1.35. It reached a high level since May last year. Apart from that, pounds increased up to three-and-a-half-year than euros.
Europe’s finance Minister Amelie de Montchalin has said, “What’s certain tonight is that this clarification seems to have down,” she added, “the most important thing with Brexit is not the way we divorce, it’s what we build afterward.”
Capital Economics chief UK economist Paul Dales has said, “If the Conservatives do win a majority, passing a Brexit divorce deal in the coming weeks could eliminate any risks of a no-deal Brexit on January 31, decrease the direct uncertainty and lift business investment at least a bit.”
According to sources, Prime Minister Boris Johnson has promised to separate the UK from the European Union.
Given that according to initial results, the Conservative party will likely get a majority of 86 seats. The final results of the general elections are expected to be announced tonight.