The pound plunges under 1.20 Dollar for the first time since January 2017 By Investing.com

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Investing.com – Still plagued by concerns about a "Hard Brexit" potential, the Pound continues its plunge on Tuesday, falling below the key psychological threshold of 1.20 for the first time since January 2017, with a low of 1.1970 for the moment.

Brexit pressure remains strong, as UK legislators return from the summer break on Tuesday afternoon, and a multi-party group of lawmakers should call for an emergency debate and take control of the country. agenda of the House of Commons, in a first effort to prevent a Brexit without agreement.

This issue would be put to a vote which, if passed, would tie Prime Minister Boris Johnson's hands before September 9 to October 14.

For the moment, Johnson has promised that Britain will leave the European Union on Oct. 31, with or without agreement, and reiterated that commitment in a Monday night speech. He also stressed that the chances of concluding a new agreement with the EU have increased.

Note finally that a Brexit without agreement is widely considered a disaster scenario to avoid at all costs. Moreover, according to press reports last month, such an event could lead to shortages of food and medicine as well as significant disruption of borders and travel.

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