The pound is looking stronger this morning, as Boris Johnson has pledged to step up his efforts to secure a deal with the EU. Brexit negotiators now due to meet their EU counterpoints twice a week. This comes following increasing backlash over the government’s decision to suspend Parliament for five weeks. Johnson has said that he has seen “a willingness to talk about alternatives to the anti-democratic backstop.”
Meanwhile, it is thought that opposition MPs will make a cross-party effort to legislation in place next week to prevent a no-deal Brexit. Jeremy Corbyn has also said that a vote of no confidence is still an option at the “appropriate moment.” Due to the prorogation of Parliament, there is now an extremely tight deadline for these MPs. We could potentially see an emergency debate on Tuesday and a vote to take control of the Commons agenda on Wednesday. We could therefore see increased volatility for sterling.
