NewsBreak - Sterling Falls to 1-1/2 Week Lows on UK Election Uncertainty

Investing.com - The pound fell to one-and-a-half week lows against the dollar on Wednesday, pressured lower by the prospect of early U.K. elections with just five weeks to go until the Brexit deadline.

The British pound was down 0.8% at 1.2387 by 9:19 AM ET (1:19 GMT). The euro rose 0.6% to 0.8869.

The U.K. 10-year benchmark bond yield fell to 0.51%

U.K. Attorney-General Geoffrey Cox said a motion for a general election will be brought to parliament “shortly.”

He made the remarks as parliament reconvened, a day after the Supreme Court’s ruling that Prime Minister Boris Johnson’s five week suspension of parliament in the run-up to Brexit was unlawful.

Opposition parties have said they won't push for an election or allow the government to call one until the threat of a 'no-deal' Brexit has been avoided for certain.

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