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The British pound fell by 0.5% today as investors prepared for further uncertainty after the UK’s Supreme Court ruled PM Johnson’s decision to suspend parliament as unlawful.
Global shares fell today after weaker-than-expected economic surveys fuelled investor concerns over the escalating US-China trade war and its effects on the world economy.
The bank’s Monetary Policy Committee (MPC) voted unanimously today to keep rates unchanged, warning that “entrenched uncertainty” around Brexit could drag on the UK economy.
Official data showed that prices of good and services, paid by consumers, only increased at an annual rate of 1.17% last month. According to a Reuters poll of economists, it was estimated to hit a rate of 1.9%.
The pound fell from its six-week highs against the dollar today as PM Johnson continues with his pledge of taking Britain out of the EU by October 31st.
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