Sterling soars against dollar as traders bet on Johnson election win

Pound hits highest level since May as opinion polls give Tories 11% lead over Labour

The pound raced to a seven-month high against the dollar on Wednesday as City traders bet that Boris Johnson was on course for victory in the general election.

Sterling jumped above $1.30 to hit 1.311, its highest level since May, while the euro rate moved above a1.18 from close to parity in the summer when the Conservative leadership contest triggered a fresh round of Brexit uncertainty.