Pound falls as No 10 plan to suspend Parliament

Government to suspend Parliament?

Good morning. Sterling has fallen this morning amid reports that the government will ask the Queen to suspend Parliament. The news broke a short while ago, and reports say that this will happen days after Parliament returns next week, making it highly unlikely that MPs can pass any laws to try and block a ‘No Deal’ Brexit.

The chances of No Deal being removed were the reason for Sterling rising yesterday. If today’s news is true then it means there is little MPs can do. It does however strengthen the negotiating hand, as it means the EU can’t rely on parliamentary manoeuvers to block a No Deal, meaning it’s more likely that compromises will be made. If they do not compromise however, No Deal is now more likely and that is why the Pound has dropped this morning.

GBP/EUR 28th August 2019

We’ll report more on these developments as we hear more. In the meantime, if you need to make a currency transfer, then why not compare our rates? The first step is to make a free enquiry, and we can talk you through setting up a free account. This will then allow you to log in to our website 24/7, and see our live trading levels. We often provide rates up to 3% better than banks or other brokers could offer.

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