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Sterling reached a fresh seven-month high against the dollar Thursday, apparently propelled upward by a belief that the upcoming U.K. general election will result in a majority for Prime Minister Boris Johnson’s Conservative Party.
The pound has risen 1.5% against the greenback over the past three trading days and on Thursday morning reached a high of $1.3146 — the strongest level since early May. Sterling is now above its 200-week moving average against its U.S. counterpart.
