Pound rises 1% against dollar after poll tips Tories to win most seats

FTSE 100 also set to rise, say traders, after 6am prediction that David Cameron will be able to command 325 Conservative MPs with Labour on 232

The pound has hit its highest level since late February after the Conservatives emerged as the winner from the general election.

Sterling surged by 1.75% to $1.55, its highest level since late February, after an exit poll predicted that the Tories would be the largest party.