NEWS

The pound was suspended at the lower end of trading on Friday, amid fresh turmoil over Brexit after opposition party leader Jeremy Corbyn refused to accept Johnson's call for a general election in December.

At 11:10 Mecca time, the pound was stable against the dollar at $ 1.2857, down 0.2%, against the euro at 1.1560. The pound is now heading towards a 1% loss against the single currency this week, after the market's enthusiasm for Johnson's exit deal with the European Union has waned, and hopes of parliament accepting the deal have diminished.

"It seems that British Prime Minister, Boris Johnson, has voted for parliament even before the vote," Paul Donovan, chief economist at UBS Wealth Management, said in a memo written by Donovan this morning. "Markets have the right to remain indifferent to political noise."

The euro is also dropping this week, with ECB President Mario Draghi repeating that he sees the region's future as weak and risks remain to push the economy down, at a recent press conference. Today's Ifo Business Sentiment reading, which indicated that the German economy has reached its lowest point, is supposed to return, the index remained stable at 94.6, rising slightly more than expected to 94.5.

Draghi is now giving way to former IMF chief Christine Lagarde, who said she would review the bank's monetary policy due to deep recession fears and the effectiveness of instruments such as interest rates and asset purchases (also known as quantitative easing), which led to the The Bank's main interest rate is below zero.

Nordea markets analysts wrote in a note: "The EU facilitation standard has now risen." Opposition to the asset purchase program was strong and clear after the December meeting, which would force Lagarde's governing council to think twice before doing more of that sample. At the same time reducing interest rates, to sink in the negative, will not be effective.

Markets are now paying attention to next week's Fed policy meeting, in which markets are eager to announce a rate cut afterwards, falling 25 basis points. In Turkey and Indonesia, interest rates fell on Friday, keeping the global monetary policy trend more accommodative. The Turkish lira weakened Friday morning, reaching 5.7732 against the dollar, but some were impressed by its strength, given the central bank's rate cut of 250 basis points.