UK: Legislation to force PM Johnson to seek a 3 month Brexit extension

Reporting on the latest political developments in the UK, BBC's political editor Laura Kuenssberg said that the legislation that will be put to a vote in parliament tomorrow is designed to force British Prime Minister Johnson to seek a three-month extension to Brexit until January 31.

"The rebels' bill would force the PM to seek a 3-month extension of Brexit until Jan 31st, if there is no new deal passed by Parliament or if Parliament has agreed to no deal by October 19th I'm told," Kuenssberg tweeted out.

Meanwhile, the GBP/USD continues to push lower and is now trading below the 1.2050 handle for the first time since mid-August. As of writing, the pair was down 0.9% on the day at 1.2047.