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Sterling tumbles as BoJo preps for............>

FOREX
FOREX: Sterling tumbles as BoJo preps for shuttering of parliament
-After a relatively harmonious open, GBP/USD dropped well over a point UK PM
Johnson geared his government to shutter Parliament by planning to formally
advise The Queen to shut the House of Commons. In doing so, the Prime Minister
would be severely restricting the time in Parliament for the opposition to
mobilise legislation against a disruptive No Deal Brexit. GBP/USD took out the
week's lows and psychological support at $1.2208/00, bottoming out at $1.2157
before stabilising slightly. Following the move, GBP is comfortably the poorest
performer.
-The UK-centric risk off sentiment has filtered well into haven FX, with the EUR
also being dragged higher. The USD index also edging higher, hitting the week's
best levels at 98.166. NZD is also suffering, pressuring NZD/USD to fresh cycle
lows at $0.6326.
-The data calendar is close to empty, with just MBA mortgage applications on the
docket. Fed's Barkin and Daly are both due to speak, at 1720BST/1220ET and
2230BST/1730ET respectively.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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