Sterling falls as Johnson calls for early elections

The British pound fell against the US dollar today, after the British Prime Minister Boris Johnson called for early general elections on December 12.

Johnson said that he will seek persuading the British lawmakers to hold early elections, after they rejected his fast-track timetable for the latest UK's deal with the European Union to exit at the end of October.

Johnson stated that the lawmakers told him they need more time to evaluate the decision for early elections, as Johnson hasn't yet present a formal request to the EU to extend the Brexit deadline for another three months until the end of January.

The British PM fears that his opposition in the parliament will not ratify his request for early elections, which could make matters far worse.

Johnson will need the approval of two-thirds of parliament to hold early elections or lose confidence, as the next elections is scheduled for 2022.

Meanwhile, GBP/USD fell by 0.4% to 1.2857 as of 19:32 GMT, with a high of 1.295 and a low of 1.2787.