Sterling dived on Wednesday as concerns rose that the United Kingdom may be head...
LONDON - Sterling dived on Wednesday as concerns rose that the United Kingdom may be headed for a disruptive no-deal Brexit after Prime Minister Boris Johnson moved to restrict parliamentary time before Oct. 31.
Johnson said on Wednesday he would schedule a Queen’s Speech for Oct. 14 in order to launch new legislation. He denied he was seeking to prevent parliament from obstructing his Brexit plans. The pound, already trading lower on the day, extended its drop to hit $1.2156, a six-day low, and was last down 0.7% on the dayAgainst the euro the British currency also weakened to 91.265 pence, its lowest in nearly a week, trading last down by 0.7% at 90.89 pence EURGBP=D3.
The latest move from Johnson comes a day after lawmakers who are opposed to a no-deal Brexit met to discuss ways they could use parliamentary procedure to force Johnson to seek a delay to Brexit.
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