BOE’s Hauser: Markets could come under strain again if there is another leg to coronavirus

Dhwani Mehta FXStreet

The Bank of England (BOE) Executive Director for markets Andrew Hauser said that “markets could come under strain again, if there is another leg to the coronavirus global infection cycle or if economic data is persistently worse-than-expected.”

The rush for cash during lockdown was the "biggest test of core market functioning and resilience" since the Global Financial Crisis (GFC), he said.

Market reaction

GBP/USD tested the 1.2500 demand area and bounced back towards 1.2515 region despite downbeat UK Construction PMI, Brexit concerns and worrisome virus stats.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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