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The British Pound Drops In The Leadup Before Brexit Showdown

The British Pound had a significant drop on Monday as the new British Prime Minister, Boris Johnson, called on his ministers to have an urgent meeting. This led some to speculate that there would be an election if it was voted that Brexit should be delayed.

On Tuesday, opposition lawmakers are expected to suggest legislation to delay Brexit beyond the October 31st deadline.

According to The Sun, Boris Johnson could call for an election as early as this Wednesday.

In the wake of these developments, the British Pound fell more than 1%. It is difficult to foresee where the Pound will go from here, as there are many possibilities in regards to Brexit: there could be no deal, there could be another delay, or there could be an election.

 

Scott Hazel

Scott Hazel (scott.hazel@zoramobserver.com) – Scott is the founding member of Zoram Observer.

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Scott Hazel

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