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Boris challenges Corbyn to December election

Boris Johnson ditches his "my deal or no deal" Brexit strategy, calls for a general election.

Centtrip: Election fever takes hold

Sterling retreated yesterday, 24 October after Boris Johnson challenged opposition leader Jeremy Corbyn to “end this nightmare” and agree to a general election on 12 December.

The prime minister said if the Labour Party supported a vote before Christmas, he would reintroduce his Brexit bill and give Parliament until 6 November to pass it. Corbyn responded on Twitter, restating he would back an election only if Johnson takes a no-deal option off the table.

Centtrip Insights: Corbyn asks to remove no-deal Brexit from the table.

 

Support for Sterling waned, with GBP/USD falling as low as $1.2787 in late-afternoon trading.

Meanwhile, Mario Draghi used his last European Central Bank policy meeting and press conference yesterday to warn that slowing global growth and Brexit uncertainty posed a risk to the Eurozone economy.

Draghi, who will hand over to former International Monetary Fund (IMF) Chair Christine Lagarde on 1 November, said the latest data “confirm our [governing council] assessment of a protracted weakness in the Euro area”, fuelling fears that Germany may head into recession in the final quarter of 2019 and weakening the single currency against its peers.

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EU offers Boris three-month “flextension”

 

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