Sterling gains more than 1% against dollar

British pound rose against US dollar today, amid market anticipation of whether the Brexit will be delayed or not, after the British Parliament was suspended which led to a constitutional crisis in the UK.

British PM Boris Johnson rejected parliament's decision to delay the Brexit after its deadline in October 31st.

Johnson said that the UK will exit the EU as scheduled, whether by a deal or not.

While the MPs are trying to prevent the economy from being severely hurt in case of a no-deal scenario happens, which led them delay the Brexit to allow more time for the negotiations.

The markets are anticipating the US Fed and the Bank of England's meetings meetings next week, with forecasts for the US Fed to cut the rates and for BoE to hold them.

As of 19:03 GMT, GBP/USD rose by 1.2% to $1.248, with a high of $1.2483 and a low of $1.2318.