Sterling upsurge against dollar after UK PM Calls Early Election

Sterling rose against dollar as British prime minister announced early elections.

May called early election on June 8 as, according to her, she wanted to strengthen her hand in divorce talks with European Union.

Sterling raised its highest level since October.

Against the yen, dollar was down 0.35% at 108.51 yen. Concerns about French elections and North Korea also pressured dollar against yen.