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28th August 2019
Pound suffers as Boris Johnson suspends Parliament

Boris Johnson, with approval from the Queen, has agreed to suspend or “prorogue” Parliament for at least a month. MPs’ efforts to rule-out a no-deal Brexit have been hampered as legislative attempts to block a no-deal are now a near-impossible task in the time frame. A vote of no confidence appears imminent, but crucially, a no-deal Brexit is now a very plausible outcome. Earlier this week, sterling had risen above near-historic lows as investors looked favourably upon opposition plans. With these plans under threat, the currency fell on Wednesday to the benefit of the multinational-heavy FTSE 100 index.