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Brexit showdown looms for pound as divided UK Parliament returns

Strategists see pound support on bid to block no-deal Brexit

Boris Johnson. Photo: Reuters
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Boris Johnson | Photo: Reuters

Charlotte Ryan & Greg Ritchie | Bloomberg
Pound traders are braced for action as lawmakers return from holidays to battle Prime Minister Boris Johnson’s move to suspend Parliament.

Sterling may recover some ground if efforts to fight Johnson’s Brexit strategy have any success, strategists say. Traders will be watching court challenges from Tuesday, when lawmakers will reconvene in the House of Commons to combat a no-deal Brexit before the month-long suspension kicks in.

“This is a make or break week for the opposition parties here,” said Peter Chatwell, a strategist at Mizuho International Plc. “Parliamentary arithmetic, and the speaker, should allow them to make progress and I expect there

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First Published: Aug 31 2019 | 8:17 PM IST

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