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Market review

Barely six weeks into his administration, the UK’s latest prime minister, Boris Johnson, added fuel to what was already a volatile August when he announced his intention to suspend (or ‘prorogue’) Parliament for the longest period on record. The UK’s constitutional crisis comes at a sensitive time with the UK economy contracting by 0.2% quarter-on-quarter in the three months to June.

The drama was played out in the sterling market with the pound falling 0.39% against the dollar in August after it sunk to sub-$1.22 in the immediate aftermath of Mr Johnson’s announcement. Sterling similarly dipped against the euro, falling below the €1.10 mark.

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