The pound sterling exchange rate rose against the euro to the highest level since July 2016, after a convincing Conservative party won the British elections, which is expected to break the political deadlock in the issue of exit from the European Union, which has cast a shadow on the markets for years.

The pound rose about 2% to 1.2 euros, its highest level since 2016, and rose more than 2% to 1.348 dollars, at its highest price since May 2018.

This contrasts with a decline of more than 10%, immediately following Britain's vote in favor of withdrawal from the European Union in June 2016, which wiped out two trillion dollars from global markets.

The strong gains of the British currency come because of confidence in the end of the state of division witnessed in Parliament during the past months, which was the reason for the delay in the exit of Britain from the European Union, as the Conservative party's victory paves the way for passing the exit agreement on the specified date.