PM Boris Johnson has come back from the United Nations General Assembly meeting in the US this morning and is likely to meet a newly re-opened Parliament. Boris Johnson’s suspension of Parliament was ruled unlawful by the UK Supreme Court Tuesday and the Speaker of the House called for Parliament to be opened today.
PM Johnson said that he profoundly disagrees with the ruling but added that he would fully respect the decision.
Under such conditions, a general election is expected this year with late November.
Against this volatile backdrop, Sterling has remained calm. GBPUSD and EURGBP have both traded within a narrow range over the last 24 hours, helped in part by weakness in both the US dollar and the euro. GBPUSD continues to fade lower and is approaching the recent one-week low around 1.2410.