Pound soars and stocks surge after Tory victory

London

STERLING and domestic UK shares soared in the immediate aftermath of the Conservative's victory and exceeded expectations by a wide margin.

The currency hit a daily height of US$1.35, up almost 5 per cent on the previous day, but after profit taking fell back to US$1.33. Nevertheless, the currency is still 10.8 per cent higher than its August 2019 low of just under US$1.20. Sterling was also substantially higher against the euro and Singapore dollar.