October 24, 2019 / 4:53 PM / a month ago

Pound boomerangs, down against dollar after Johnson calls election

NEW YORK, Oct 24 (Reuters) - Following British Prime Minister Boris Johnson’s call Thursday for a national election, the pound whipsawed in choppy trade, plunging then recouping some losses to land half a percent lower on the day against the dollar.

Johnson said on Thursday that he was asking parliament to approve a national election to take place on Dec. 12 as part of his efforts to ensure Britain leaves the European Union.

Although uncertainty about Brexit has hurt the pound, the currency has been bolstered in October as the chances of a no-deal exit have been all but eliminated. The pound was last down 0.45% to $1.286. It is currently up nearly 5% this month. (Reporting by Kate Duguid; Editing by Steve Orlofsky)

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