Pound jumps as exit poll shows Conservative majority in British vote

The pound sterling leapt higher on Thursday after exit polls showed Prime Minister Boris Johnson's ruling Conservative Party on track to win a wide parliamentary majority, a result seen as hastening Brexit.

Meanwhile, global stock markets rallied with Wall Street in record territory following reports Washington and Beijing had at long last sealed a partial trade deal and agreed to de-escalate their tariff battles.

The British exit poll suggested the Conservatives would win 368 seats in the 650-seat parliament, with the main opposition Labour party trailing on 191.

Shortly after 2200 GMT, a pound rose about two per cent against the dollar USD 1.3416 and was up 1.6 per cent against the euro at 83.25 pence.

"It gives Johnson the mandate to push over the Brexit," said Shaun Osborne, chief currency strategist at Scotiabank.

"For the UK it provides some clarity for the economy."
"Lagarde seems poised to help take the eurozone out of negative rates."