UK PM Johnson: People should work from home – Telegraph
|The Telegraph reports that UK PM Johnson told MPs that he will be telling Britons Tuesday that “people should work from home if you can”.
Market implications
Robust, if localised, restrictions will be undermining growth expectations, but the UK is not alone in this.
COVID-19 infection rates in many major European economies are also rising sharply, so the focus for the pound could be mostly subsequent of Brexit headlines.
The absence of progress in the bilateral UK-EU trade talks isn’t helping sentiment for sterling which dropped out of the bottom vs the greenback at the start of the week, falling in line with prior analysis as follows:
GBP/USD holds below 1.28 level
The price of the pound may have reached a limit to the downside and an upside correction might be expected at this juncture.
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