US Markets

Pound boomerangs, down versus dollar after Johnson calls for election

Credit: REUTERS/DADO RUVIC

The British pound whipsawed in choppy trade after Prime Minister Boris Johnson on Thursday called for a national election, landing about 0.5% lower on the day against the dollar.

By Kate Duguid

NEW YORK, Oct 24 (Reuters) - The British pound GBP= whipsawed in choppy trade after Prime Minister Boris Johnson on Thursday called for a national election, landing about 0.5% lower on the day against the dollar.

Johnson said on Thursday that he was asking parliament to approve a national election to take place on Dec. 12 as part of his efforts to ensure Britain leaves the European Union.

Although uncertainty about Brexit has hurt the pound, the currency has been bolstered in October as the chances of a no-deal exit have been all but eliminated. The pound was last down 0.52% to $1.285. It is up nearly 5% this month.

(Reporting by Kate Duguid; Editing by Steve Orlofsky and Richard Chang)

((kate.duguid@thomsonreuters.com; +646-223-6118; Reuters Messaging: kate.duguid@thomsonreuters.com@thomsonreuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More