UK stocks look more attractive after fresh slump in sterling

Pound hit by Parliament shutdown plans

Anna Fedorova
Sterling slumps again

Sterling slumps again

UK equities could be a more attractive investment after the slump in sterling caused by Brexit turmoil, with the currency most recently rocked by Prime Minister Boris Johnson’s announcement of plans to suspend Parliament.

The British currency fell by more than 0.8% against the euro and dollar, trading at €1.10 and $1.22 respectively by 11.41am GMT, after Johnson said he would resort to proroguing Parliament to stop them getting in the way of a no-deal Brexit. However, so far it has failed to severely impact the FTSE 100, which is up just 0.1%. Commenting on the falls, Andy Scott, associate director at JCRA, said: "Sterling's recovery from multi-year lows versus the dollar and the euro over the past two weeks has been largely due to hopes that either the EU will agree to replace the Irish backstop with ...

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