British Prime Minister Boris Johnson said on Sunday that the government now had to take special steps to protect the most vulnerable from the coronavirus outbreak. Johnson said that Britain needs "far far more" ventilators to support patients with coronavirus in critical care.
"We have we think a good supply at the moment but we need to get far far more," he said at a news conference on Sunday. "That's why there's a huge national effort to equip ourselves not just with ventilators but with all the testing kits, the reagents, all the stuff that we're going to need to beat this disease."
Ky comments
- UK PM Johnson says we have to slow the spread of the disease to save thousands of lives.
- Johnson says we now have to take special steps to protect the vulnerable.
- Says shielding of the vulnerable will save lives.
- Says we have to do more so existing measures are having the effect we want.
- Says wants to say more about how we interact outdoors.
- Says please follow the government's advice when outdoors - stay 2 metres apart.
- We have already taken very draconian steps and it is important people can get out and exercise if they can.
- Says parks and open spaces are absolutely crucial for our society but people should go act responsibly.
- Says if you don't exercise responsibly outside we may have to bring in tougher measures.
- Says when asked about a lockdown: the best thing to stop the spread of the disease is to stay at home if you possibly can.
Market implications
GBP/USD has been flattened by the COVID-19 pandemic, falling over 5% in the prior week with a temporary spell in the 1.14 handle. For a second consecutive week, the US dollar took up the top spot on the FX leaders board and the DXY traded 1 pip away from the 103 handle. Until there is a reduction of cases around the world for markets to start to recover, the USD could remain strongest, subsequently, a sell on rallies in cable will most likely continue to play out as it appears things are about to get worse in the UK before they can get better.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Ethereum could remain inside key range as Consensys sues SEC over ETH security status
Ethereum appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the US SEC and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.