Westpac: UK election results blow sterling cap
The pound regained its lustre on the news UK prime minister Boris Johnson secured a majority
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As sterling surged in the wake of the UK parliamentary election in which Boris Johnson secured a workable majority, Westpac’s bullishness on the pound proved correct.
While the bank’s senior currency strategist Sean Callow says that Johnson’s victory was largely priced in going into the vote, the pound nevertheless rallied 3% in the first hour of trading in the Asian session on December 13, climbing to 1.35 from
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Sterling’s future is still very dependent on Brexit-related developments, the bank says
