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Sterling slips before Supreme Court rules on Johnson's suspending parliament


Tuesday, 24 September 2019 15:42 WIB

Currency EuroPoundsterling


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Trading in the pound was quiet on Tuesday before the Supreme Court rules on whether Prime Minister Boris Johnson misled Queen Elizabeth when he asked her to suspend parliament for five weeks until Oct. 14.

The top court's decision will be announced at 10:30 a.m. (09:30 GMT), but some analysts say it is unlikely to move sterling by much, since the implications are more of a long-term issue.

The pound was down 0.1% at $1.2418 in early London trading. It also fell to 88.51 pence against the euro .

Nervous investors instead turned to the derivatives market, buying protection against unexpected moves in sterling, sending one-month implied volatility gauges — which encompass the deadline for Johnson to find a Brexit deal — to a three-week high.

Source : Reuters


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