Sterling traders are increasingly jittery as MPs opposed to a no-deal now have only a short time to implement a strategy ahead of the October 31 deadline. The Labour Party’s continuing resistance to a general election prevented the pound from sinking further against the US dollar today with Labour leader Jeremy Corbyn emphasising his party will only vote for an election if the no-deal bill becomes law on Monday.
He added: “Let this bill pass and gain royal assent, and then we will back an election – so we do not crash out of the European Union with a no-deal exit.”
The pound could gain on the US dollar later this afternoon if the House of Lords accept the no-deal Brexit bill as predicted.
In British economic news, today’s Halifax house prices figure for August rose above consensus by 0.3 percent, offering a lifeline to the pound.
Russell Galley, a Director at Halifax, noted: “While