Beyond Currency

24 June 2022 - Government loses both by-elections


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It is said that one of the reasons that Boris Johnson was able to cling onto power following a recent vote of confidence was the fact that MPs believed he had a golden touch when fighting elections.
That appears to have now deserted him as well, as the Government lost the two by-elections which were held yesterday.
The first to declare was Wakefield in Yorkshire, where the seat was won back by the opposition Labour Party, who lost it in the general Election.
While this defeat will have stung, it is the kind of result that happens in mid-Parliament and wouldn’t normally have caused too much of a stir given that the turnout was just 39%.
The far more significant result was the Liberal democrat victory in Tiverton and Honiton in Devon. Turning over a 24k majority to lose by a little over six thousand votes will send shockwaves through Westminster. The Liberal Democrats have now taken three seats from the Government in the past six months.
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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