Pound sterling surges with Conservative victory in British polls

London, May 8
The pound sterling appreciated on Friday nearly 2 percent against the US dollar, to $1.55, following the victory of the Conservative Party under British Prime Minister David Cameron in the elections held on Thursday, Efe news agency reported.

After several days of downtrend over possibilities of forming a minority government, the Conservative's majority triumph has given new life to the currency.

The pound exchange rate also went up against the euro by 2 percent, reaching 1.38 euros, according to latest market data.

With the count completed in 649 of the 650 voting constituencies, Conservatives have won 330 seats, four ahead of the magic number of 326 to reach majority in the House of Commons.