Pound's rally gets fresh legs as latest polls fuel election optimism

• Sterling rose to as high as $1.3180, its highest level in seven months and was last up 0.25pc on the day.
• The pound strengthened versus the euro to 83.94 pence , its strongest level in 2-1/2 years.
• The ruling Conservative Party extended its lead over the opposition Labour Party to 14 percentage points.

LONDON: Sterling hit a seven-month high against the dollar and a 2-1/2 year peak versus the euro on Monday after fresh polls showed British Prime Minister Boris Johnson's Conservative Party has extended its lead in opinion polls before Thursday's election.

The ruling Conservative Party extended its lead over the opposition Labour Party to 14 percentage points, up from 9 percentage points a week ago, an opinion poll by Survation for ITV's Good Morning Britain showed on Monday.

Sterling rose to as high as $1.3180, its highest level in seven months and was last up 0.25pc on the day.

The pound strengthened versus the euro to 83.94 pence , its strongest level in 2-1/2 years.

Expectations that the Conservative Party will win an outright majority in this week's election, ending a hung parliament and political paralysis on Brexit has boosted the pound in recent days.