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A Rise in Pound: The Backend Story

It has been observed that the value of the pound become volatile and people are benefitting by this. The value of the pound has got really improved now. The real factor which is responsible behind the devaluation of the pound was the decision of the PM Johnson to end up the parliament. He was trying to make this decision because of the conflict with opposition. The opposition has a stance on Brexit-Britain leaving that UK should not leave the EU without assigning any deal/agreement. Just for that purposes, they were thinking to submit a bill on the 31st October.

Looking at the decision of the opposition PM thought to dissolve the parliament but when he started doing that so he didn’t find support on this. As the PM lost his majority so now the situation is different. Now the Pound has again grown up to $1.20 and euro1.10. This value is great as compared to the previous values. Because pound was devalued since October 2016 and after that, this was the time when the pound again got some hikes. The reason behind the stabilizing value is the story of PM where he has lost the majority in the parliament.

 

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