Labour plot to trap UK PM Johnson by delaying general election until November – Telegraph

Anil Panchal FXStreet

Despite registering stark victories against the United Kingdom (UK) Prime Minister (PM) Boris Johnson, the opposition Labour party is still worried of losing the election if it is held before the November, the UK Telegraph recently ran a story confirming the same.

The news report mentions that Labour leader Jeremy Corbyn believes he can trap Boris Johnson by refusing to agree to his preferred Oct 15 election date, forcing the PM to seek a Brexit extension before a poll is held.

It was further clarified that Mr. Corbyn has agreed on a pact with the SNP that will see both parties opposing an election before Oct 20 at the earliest. Three of Mr Corbyn's most senior frontbenchers insist it should be pushed back beyond the current Oct 31 exit date.

FX implication

The British Pound showed little reaction to the news, mainly due to investors major attention on commodity-linked currencies during the Asian session unless any major data/news arrives from rest of the world. However, this could add strength to the GBP considering another signal for delayed Brexit that has been helping the Cable off-late.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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