The pound rose as much as 0.7% on Monday, still boosted by last week's gene...
LONDON - The pound rose as much as 0.7% on Monday, still boosted by last week’s general election victory for Prime Minister Boris Johnson’s Conservative party.
Monday will be the first day in power for 109 new Conservative lawmakers who won seats in Thursday’s election. Johnson intends to re-submit the Withdrawal Agreement Bill to parliament for ratification before Christmas. According to weekly futures data, speculators reduced their net short position to $1.861 billion in the week to Dec. 10, the lowest level of shorts since May GBPNETUSD=.
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