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NewsBreak - Sterling Falls to 1-1/2 Week Lows on UK Election Uncertainty

Published 2019-09-25, 09:20 a/m
© Reuters.
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Investing.com - The pound fell to one-and-a-half week lows against the dollar on Wednesday, pressured lower by the prospect of early U.K. elections with just five weeks to go until the Brexit deadline.

  • The British pound was down 0.8% at 1.2387 by 9:19 AM ET (1:19 GMT). The euro rose 0.6% to 0.8869.
  • The U.K. 10-year benchmark bond yield fell to 0.51%
    • U.K. Attorney-General Geoffrey Cox said a motion for a general election will be brought to parliament “shortly.”

  • He made the remarks as parliament reconvened, a day after the Supreme Court’s ruling that Prime Minister Boris Johnson’s five week suspension of parliament in the run-up to Brexit was unlawful.
    • Opposition parties have said they won't push for an election or allow the government to call one until the threat of a 'no-deal' Brexit has been avoided for certain.

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