Sterling is stronger against both the pound and the dollar this morning. This comes after news that Labour will try to defeat a no-deal Brexit. Jeremy Corbyn has urged leaders of the other opposition parties and Tory rebels to back a vote of no confidence in the Prime Minister, and then implement “a strictly time-limited temporary government with the aim of calling a general election.” Corbyn would therefore be caretaker Prime Minister for a period of time.
There have been mixed responses from other opposition parties, with Liberal Democrat leader Jo Swinson calling the plan “nonsense”, and the Green Party’s Caroline Lucas insisting that there should be a referendum before a general election.
Meanwhile, Prime Minister Boris Johnson has said that the EU has become less willing to negotiate a deal with the UK because there is opposition to leaving the EU in Parliament.
The pound was given a boost yesterday due to an expected rise in inflation. Figures came in above the Bank of England’s target, rising to a three month high of 2.1%. This was reportedly down to higher costs for hotel rooms, video games and consoles, as well as less discounting of clothes in summer sales.
