Pound slides after Johnson reveals plan to suspend parliament

Business leaders voice alarm over economic impact, as sterling falls to six-day low

The pound has fallen sharply after Boris Johnson announced plans to suspend parliament for five weeks before the Brexit deadline, raising the chances of a no-deal exit from the EU.

Sterling was under sustained selling pressure on Wednesday morning, falling by more than a cent against the US dollar to trade below $1.22, and by almost as much against the euro, to a1.0964.

Actively pursuing a no-deal Brexit " is tantamount to actively pursuing a recession