Sterling is low after Boris Johnson announced plans to have Parliament suspended for five weeks from 10th September. The official reason is to have a Queen’s Speech to set out the government’s direction, but the timing has incited intense controversy from MPs as a strategy to lessen the time they have to stop no-deal.
In further political news, Italy’s Prime Minister is now to revoke his resignation, after Luigi di Maio and new coalition partner the PD agreed to him staying on as head of government. However, worries over Italy’s economy remain, with quarterly growth expected to hit zero today.
The dollar is benefitting from a weak pound, despite continuing trade tensions with China. Further tariffs will be imposed from 1st September.
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