Well, in the very short period when Boris Johnson is ahead of the UK government’s fate, he has already managed to achieve a very private record, though nothing enviable and not surprisingly negative. It is not every day that a head of state is accused by the country’s top court for lying, even worse, lying to the Queen. And while it is true that for Boris this little inconvenience does him, given his history of lies and disrespect for the dignity of the positions he held, the prime minister will now have to face an even more hostile parliament against his claims to affect the Brexit.
In practical terms the court ruling, which declared the suspension of Parliament as unlawful, implies that the House of Commons will resume office at 11.30 am tomorrow, according to speaker John Bercow. In the foreign exchange market, the Pound appreciated with the news, pulling GBP/USD from 1.241 to 1.25, also giving the EUR/USD some positive, albeit smaller, momentum. Looking ahead, there’s a few more weeks of animation in this soap opera, which promises to run a lot of ink in the newspapers and volatility in the market.
Marco Silva is a Financial Market Specialist with 20 years of experience, with transactions in 12 different countries, involving numerous financial instruments, Specialist in Technical Analysis, Capital Manager, Investment Advisor, Financial Hedging Operations and Algorithm trading developer. Economic Commentator TV and RTP Information for the Financial Markets, Responsible for the Department of Economy / Markets of TVL.
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© 2019 High Leverage FX - All Rights Reserved.