UK Prime Minister Boris Johnson returns to work today, nearly a month after testing positive for Covid-19. The Prime Minister arrived back at Downing Street late in the day Sunday to prepare to take back the reins in the fight against coronavirus.
The Pound has started the week on the front foot, making gains against its peers. News is circulating that plans are being drawn up to gradually release the economy from the strict lockdown measures. As the global fatality rate declines, traders are beginning to seek riskier assets to increase their returns on investments, with the Pound falling into that category. The Government are said to be exploring all avenues to allow people to return to work, only where it is safe to do so.
On the flip side, however, there are a number of oppositions against lockdown measures being reduced in the UK, with the health minister, Edward Argar, having been quoted as saying that “now is not the time to ease up”. Statistics show that this also follows suit with public opinion, as testing for the virus remains poor in the UK.
Elsewhere in the world, plans are being drawn up to release most countries from their lockdown measures. Spanish families are now allowed out after six weeks in lockdown, Italy are easing lockdown measures after Europe’s longest lockdown and New Zealand is said to have eliminated the virus altogether.
This is a crucial period where markets will look to the news to predict which economy will be up and running to a ‘normal’ level as soon as possible.
Have a good day,
Author: Jack Nicholls, Relationship Manager
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