Pound against divers against the dollar amid reports Boris Johnson will pursue an extensive parliamentary suspension making Brexit more likely without a deal
- Sterling plunged against the dollar amid reports that the queen will suspend parliament
- The pound fell by more than a cent today to $ 1,219 at around 10 a.m.
- Experts said the pound was & # 39; fallen & # 39; and the euro was at 0.9102
- According to prorogation plans, members of parliament will not be sitting between 9 September and 14 October
The pound plummeted when it came forward Boris Johnson is set to ask the queen to suspend parliament a few weeks before Brexit.
Sterling fell across the board against other global currencies and fell by more than one cent to $ 1,219 after reports of government plans were circulated.
Experts said the prime minister's plans are tumbling the pound & # 39; and the worst performance since the end of July, and one of the worst this year. At 10 o'clock the euro stood at £ 0.9102.
All indications that a no-deal is becoming more and more likely are sinking the pound.
Sterling fell across the board against other global currencies and fell by more than one cent to $ 1,219 after reports of government plans were distributed
Bart Hordijk, FX Market Analyst at Monex Europe, said: & # 39; markets were shocked when this news came out. & # 39;
He said: & # 39; It is believed that this gives Johnson a more free hand to get a no-deal Brexit, hence why sterling is sold out.
& # 39; What may have increased even more than the chance of a no-deal Brexit is the chance of a general election, as this may be the last push for MPs opposed to a no-deal Brexit scenario for Labor & # 39; support voting attempts. no faith in the current government.
In this light, it can even be seen as a preventative strike by Johnson for a general election, because this movement positions conservatives even more strongly than the party that just wants to continue with it & # 39; and & # 39; Brexit wants to deliver & # 39 ;.
Adrian Lowcock, head of personal investing at investment platform Willis Owen: & # 39; The pound has been where the action is when it comes to the roller coaster ride that is Brexit.
& # 39; Today the news that Prime Minister Boris Johnson will try to suspend parliament until October 14 is the sterling tumble.
& # 39; The Brexit remains uncertain, but the chance of a no deal is growing and that will weigh on the pound. & # 39;
According to prorogation plans to be approved today at Balmoral, MPs will not be sitting between September 9 and October 14, according to reports.
Boris Johnson (photo) is set to ask the queen to suspend parliament a few weeks before Brexit, in a movement that can prevent MPs from blocking a No Deal Brexit
The prime minister will ask the sovereign (pictured together on the day he was appointed prime minister last month) for parliament in September
That gives MPs extremely little time to prevent a No Deal Brexit on 31 October, despite the parties' efforts to pass legislation to do so.
What is happening now with the Brexit process in Parliament?
Today: Privy Councilors including Jacob Rees-Mogg, the Lord President of the Council, will see the Queen in Balmoral, it is reported.
They will ask her to prorogenize parliament from September 9.
September 3: Parliament is returning from its summer break as planned.
September 9th: If the latest plans continue, Parliament will be suspended again from this date.
Late September – early October: Festive conference season. Workers gather in Brighton while the Tories are in Manchester.
14 October: MPs return to parliament and a speech is given in which the king reads the government's legislative plans.
Opposition members can start with efforts to stop a No Deal Brexit, but the time will be extremely limited.
October 31st: Great Britain will leave the European Union on this date. Boris Johnson has promised that on October 31 it will happen with or without a deal.
November: It is speculated that the government will hold a general election after the Brexit crosses the line.
The government insists that the move is a normal procedural step and called it a & # 39; swamp standard Queen & # 39; s Speech process & # 39; but opponents of Brexit immediately labeled it a & # 39; dark day for British democracy & # 39 ;.
The Prime Minister has repeatedly promised that the UK will leave the European Union on 31 October, with or without agreement.
Talks between parties led by Jeremy Corbyn of Labor ended yesterday in a pledge to stop a No Deal Brexit with new legislation.
That would require opposition MPs to take over control of parliamentary affairs – an unusual step, but it already happened during the Brexit process.
However, MPs cannot pass legislation if they are not sitting and the move to suspend Parliament will be seen as an attempt to thwart opposition plans.
According to the new timetable, they will only sit for a few days when the parliamentary recess ends next week, before the session is announced.
According to previous plans, Commons business was cut off for the party conference season before MPs returned. The Tory conference ends on October 2.
Now the time will be even shorter – and the splendor of the Queen's speech and the opening of Parliament will use up part of that time.
Mr. Johnson's opponents accused him of a & # 39; constitutional indignation & # 39; to prevent Parliament from stopping him.
Scotland's Prime Minister, Nicola Sturgeon, said: & # 39; So it seems that Boris Johnson is about to close parliament to enforce a no-Brexit.
& # 39; Unless MPs stop him next week, today is going down as a dark one indeed for British democracy & # 39 ;.
Labor MP and former Foreign Minister Yvette Cooper tweeted: & Boris Johnson is trying to use the Queen to concentrate power in his own hands – this is an extremely dangerous and irresponsible way to rule.
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