British Pound appreciates on UK general election news

During Monday, November 11, the British Pound appreciated 73 pips or 0.57% against the US Dollar. Note that the British Pound appreciated against other major currencies as well.  

The surge was triggered by the announcement made by the Brexit Party leader Nigel Farage. Farage said that his party would not contest the 317-Conservative seats. However, the Brexit Party would focus on unseating opponents of leaving the EU – mostly, the Labour Party and the Liberal Democrats. 

The action is likely to raise chances that Boris Johnson would stay the UK Prime Minister.