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GBP Hammered Amid UK Constitutional Outrage

From globalprime.com.au

The Sterling was the main mover, this time hammered lower, after a bold move by UK PM Johnson to prorogue (suspend) the British Parliament after it returns from recess for five weeks until Oct 14th, essentially leaving very little room for MPs to block any potential no-deal scenario ahead of the Oct 31 Brexit deadline. The Speaker of the Commons Bercow described the move by Johnson as a “constitutional outrage", quite a symbolic expression to tell you how heated the proceedings are in UK politics ahead of what's expected to be an incredibly turbulent time for volatility to hit the GBP from Sept onwards. Amid the angst ... (full story)

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  • Category: Fundamental Analysis