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Johnson faces wrath of Parliament

The UK's political crisis is far from abating as Boris Johnson refuses to resign or apologise for his unlawful actions.

Centtrip: Investors look to Eurozone data amid dreary UK politics

British Prime Minister Boris Johnson returned early from the UN yesterday to face the House of Commons after the UK Supreme Court ruled that his prorogation of Parliament was unlawful.

Leaders from across parties publicly called for Johnson to resign, but no one appears to be in a strong enough position in the opinion polls to support a motion of no-confidence in the government, which would trigger a general election.

The prime minister said repeatedly that the best way out of the Brexit deadlock is through a general election and accused Labour Party leader Jeremy Corbyn of “running scared”. The opposition and Scottish National Party are reticent to call his bluff so close to the 31 October deadline.

Across the pond, formal impeachment inquiries have begun against US President Donald Trump. Speaker of the House of Representatives Nancy Pelosi charged the president with betraying his oath of office and the nation’s security.

The inquiry follows Trump’s private phone conversation with Ukrainian President Volodymyr Zelensky in which he urged the latter to investigate Joe Biden. Trump also suggested that his counterpart should “look into” Biden and his son Hunter, who had once worked for a Ukrainian gas company.

US GDP data will be the only top-tier data release this afternoon. However, this is the final of three GDP releases and is more of a confirmation release and should not surprise markets. Meanwhile, Brexit will continue to hog the headlines.

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