Pound falls again on General Election speculation

Pound falls again on General Election speculation and
John McDonald will give private tenants the Right-to-Buy their rented property
at a discount!

The pound has continued to fall on currency markets amid
intensified political uncertainty over Brexit, the BBC reports today, although
a couple of cents against the dollar is hardly a catastrophe.

Rumours of a possible snap general election dragged sterling
further down, as MPs pushed for a further three-month Brexit extension.

Against the dollar, the British pound fell more than a cent
to $1.2050, while against the euro, it fell below the €1.10 mark.

Prime Minister Boris Johnson, who last week said he will suspend parliament, has
repeatedly insisted that the UK is ready to leave the EU without a deal,
despite his own MP’s threatening to revolt against the government.

Over the weekend, government whips were summoned to the
Prime Minister’s Chequers residence where they were given orders to warn Tory
MPs that they face deselection at the next election (which could be in a matter
of weeks) if they rebel against the party line.

Brexit, currently scheduled to happen on 31 October, is
causing uncertainty business and needs to be settled one way or the other.

If he calls a general election this year, it will be the
third one in four years and the fourth election if you include the 2016 EU referendum
vote.

Despite petitions and mass demonstrations against the
suspension of parliament, Johnson’s rating actually increased, intensifying
speculation that he may call for an early election to strengthen his wafer-thin
DUP-backed majority and scupper opposition attempts to block brexit.

Finally, the Sunday Mail reported yesterday that Labour’s
Shadow Chancellor, John McDonald, plans to put the brakes firmly on the buy-to-let
market and give private tenants the ‘right-buy-buy’ their rented property at
a discount.

Word of the Day

Commodity Markets

A commodity market trades in the primary
economic sector in commodities, such as cocoa, fruit and sugar.
Hard commodities are mined, such as gold and oil. Investors
access about 50 major commodity markets worldwide with purely financial
transactions increasingly outnumbering physical trades in which goods are
delivered. Futures contracts are the oldest way of investing in
commodities. Futures are secured by physical assets. Commodity markets can
include physical trading and derivatives trading using spot prices, forwards, futures,
and options on futures. Farmers have used a simple form of derivative
trading in the commodity market for centuries for price risk management.

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