The Pound is trading flat early on Tuesday, at $1.243, with a ruling from the UK’s Supreme Court expected later today. The top British judicial institution will deliberate if the suspension of Parliament, a move devised by Prime Minister Boris Johnson, is lawful or not. In principle, a decision in favour of reinstating parliament will be beneficial to the Pound.
However, bringing law makers back won’t necessarily move the Brexit process closer to what the markets would see as a positive resolution. Therefore, limited impact is expected on Sterling, whatever the judges’ decision may be.
