British pound surges as Johnson set for large parliamentary majority

Sterling surged more than 2% against the dollar and the euro on Thursday as traders piled into the pound after an exit poll indicated Prime Minister Boris Johnson's Conservative Party would win a majority of 86 seats in Britain's election.The British currency had been rallying in recent days as investors grew confident of a Conservative Party majority, but the scale of the victory suggested by the exit poll sparked a huge rally in the pound.