Economic news

Sterling drops on parliament suspension concerns

On Wednesday sterling dropped after a BBC journalist stated that Britain's Queen Elizabeth could be asked on Wednesday to consent to suspend parliament.

poundPhoto: Flickr

Sterling, previously exchanging lower during the day, stretched out its losses to touch $1.2220, down 0.5 percent on the day.

Versus the common currency the British pound likewise slipped 0.6 percent to 90.81 pence.

The British pound had rallied recently on expectations that Britain's opposition parties can prevent a messy Brexit without an agreement.

British PM Boris Johnson has stated the UK is withdrawing from the EU with or without an agreement on Halloween, and media have recently revealed that he plans to suspend parliament to back up strength through an exit.

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  • avatar-1159
    • #

    Desperate times calls for desperate measures. The MP's rejected May's deal, the EU is refusing to renegotiate. Corbyn and labour was never going to agree to May's deal because their plan is to take over parliament. People voted to leave the EU, they didn't vote for Labour or Corbyn to lead the country. The EU and Labour is to blame if we get no deal. Thank God someone is at least making decisions.

  • avatar-1029
    • #

    Johnson has shown his true colors. He is not only a liar but a hypocrite. While accusing the EU of being undemocratic he is trying to suppress free speech and silence democratically elected MP's. Wake up before it is too late.

  • avatar-941
    • #

    Oh, dear, what a mess. The Queen will not go against the recommendation of her Government, That's the whole setup of the Monarch being separated from Politics. So if its requested by her PM and her government then she will grant it. So ... Parliament Prorogued, Brexit will happen (With or Without a deal) and then a general election.

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