For the second consecutive day, the Pound is falling against other currencies and currently trades at $1.2830. Having touched $1.30 earlier in the week, this represents a fall of more than 1.5%.
Photo by Elliott Stallion.
The latest political twist keeping sterling under pressure has a touch of surrealism about it: Boris Johnson is asking for an early election, for which he’ll need the support of Labour MPs; Jeremy Corbyn, the Labour leader, said he will support an early election, but only if the EU has granted a Brexit extension and no deal is off the table. However, the EU will only grant a new extension if the British side has a clearly defined plan. There is an absurdity about the situation and the markets are reacting by once again walking away from the pound.
