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GBP falls by 1% against USD as PM Johnson seeks to suspend parliament

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  • 2 months ago
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The GBP/USD pair fell by 1% just some time ago following news that PM Boris Johnson intends to suspend parliament, a highly controversial move which will restrict parliamentary activities in Westminster as the country readies itself to exit the E.U. on October 31.

The suspension would last until October 14 in which the Queen would then give a speech outlining the post-Brexit plans of Johnson’s government, however the Queen herelf would have to approve of the suspension in order for the same to go ahead.

The move by Johnson certainly points to a no-deal Brexit which could have negative effects on the British economy and several MPs (members of parliament) have hinted to stop Boris Johnson from taking this action and are willing to take it through the courts if necessary.

 

Source: Smart Trend Team