UK Cabinet to hold a conference call on Wednesday morning – BBC, Cable gives up 1.2200

Dhwani Mehta FXStreet

Following the tweet that the UK PM Johnson is looking to extend the Parliamentary recess period to October 14^th, in an effort to prevent any attempt to stop a no-deal Brexit, BBC political editor Laura Kussenberg said the UK Cabinet will hold a conference call on Wednesday morning.

Further Comments:

“Downing Street says it's all business as usual for new govt, but the timing of Queen's speech has useful political side effect that denies MPs time to try to stop no deal.

Parliament likely to meet from next Monday until around the 11th of September.

Understand Downing Street thinks they have some legal protection from court cases if they are suspending parliament to come back with a Queen's speech.”

The selling interest around the GBP remains unabated amid mounting no-deal Brexit risks, knocking-off GBP/USD further below the 1.22 handle.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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