The British Pound continues to fall. Yesterday there was more chaos and dispute in the parliament in London after the judicially ordered end of the forced break than before the break. The currency market is currently recognizing the hopeless situation of the Britons with regard to Brexit. But what is happening now?
Well, Boris Johnson stresses more than ever that Britain will leave the EU on 31st of October. Obviously more than weakened in parliamentary London, he called on the opposition last night to hold a vote of no confidence against him. And yes, the parliament would probably pronounce Johnson the distrust? But then there would be new elections, and that is exactly what Boris Johnson wants! So he said yesterday that the opposition should please face up to the vote of the electorate. And the way the polls look, with his hard course he would probably be the winner of the elections. But also opposition leader Jeremy Corbyn suspects that. He is apparently afraid of the “simple” electorate. New elections would cost the opposition and thus the EU-friendly camp seats in parliament. In the last two months in particular, the conservatives around Boris Johnson have been able to make significant gains in polls, but have stagnated recently.
No way out
The opposition in parliament is currently demanding the resignation of Boris Johnson. But he wants to provoke new elections. Jeremy Corbyn wants a postponement of the exit date, although it is not clear at all whether the EU would really agree to a new postponement. New contents, a new concept that could be presented to the EU regarding a withdrawal treaty, nobody seems to think about that this week in London. And so it is still a little more than four weeks until 31st of October. The British Pound continues to fall against the US Dollar (chart since September 19th). Since yesterday morning alone, the Pound has lost 180 pips to its current 1.2310 level.