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The surprise announcement of a UK general election put a spring in the step of sterling, which jumped from US$1.25 to US$1.28. The pound has suffered since the Brexit vote in June 2016, when it fell from US$1.48 because of potential economic problems that barriers with the UK’s largest trading partner, Europe, might bring. Last week sterling rose on expectations that the Conservatives will increase their majority, giving Theresa May greater stability as she enters negotiations with the EU. Another factor is the weakness of the US dollar, owing to delays facing President Donald Trump’s domestic plans.