EURGBP Higher as Parliament Votes on PM’s election call

EURGBP trades modestly higher today in the anticipation of the vote in the British Parliament on Early Parliamentary General Elections Motion, tabled by the Prime Minister Jonhson.

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A 90-minute debate on early general elections is scheduled for 1530 GMT, followed with a vote later in the evening. The Government has also emergency plans ready in case its proposal falls in the Parliament later today.

“The government is set to back the Lib Dem bill for a December 9 election if Boris Johnson loses the Commons vote on an election later,” wrote Adam Bienkov, UK political editor of Business Insider.

Meanwhile, the pound trades softly lower against the EUR this morning. The price action seems trapped between two important horizontal levels – 0.8575 and 0.8695, as investors await the outcome of today’s proceedings in the Parliament.

 

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