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Tom Newton Dunn, the political editor of The Sun, recently reported that British Prime Minister Boris Johnson was planning to announce a snap election in five weeks time if parliament were to pass legislation to block a no-deal Brexit.

“Boris has told Cabinet allies that he fears an ambush by Remainer Tories allied with Labour will frustrate his efforts ahead of a key EU summit on October 17,” wrote Dunn. “MPs will try and bind his hands tomorrow and stop a No Deal Brexit with a new law in Parliament forcing Boris to seek another extension to Brexit if he doesn’t get a deal.”

As the uncertainty surrounding UK politics continue to weigh on the British pound, the GBP/USD pair extends slide toward the 1.20 handle and was last seen trading at 1.2042, erasing 0.95% on the day.