Sterling surged Wednesday as British Prime Minister Theresa May repelled a leadership challenge and quieted a destructive mutiny within the U.K.'s Conservative Party.
Conservative lawmakers voted to back May in a widely followed secret ballot, though the outlook for Britain's exit from the European Union remains clouded. Against the 200 lawmakers backing May, 117 voted that they had no confidence in her leadership.
The currency jumped into the vote then pared some gains after the actual result. Sterling last traded up 0.9 percent.