Pound in flux as Boris Johnson calls for general election

By Hazel Davis

UK Prime Minister says broken Parliament is responsible for Brexit deadlock

The pound fell from its recent multi-month highs as the EU considers another Brexit extension and the UK Prime Minister (PM) Boris Johnson challenged MPs to agree to a general election on December 12.

Following the news, analysts predicted more volatility around a general election and sell-offs under a Corbyn win.

The PM said that a “broken parliament” was responsible for the Brexit deadlock, while chancellor Sajid David called it “dysfunctional”.

If an election is agreed, Johnson says he will bring the withdrawal agreement bill back to the Commons. Labour has said that it is “definitely up for" a general election if there’s an explicit commitment to rule out a no-deal Brexit.

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On Thursday October 24 the other opposition parties suggested they would reject moves for a general election. Welsh Plaid Cymru said it would vote against, Lib Dems said they would “seriously consider” voting for an election if an extension is secured and no-deal is off the table.

However, Scotland’s first minister Nicola Sturgeon tweeted:

The Government has dropped its plans for a Budget on November 6.

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