UK PM Boris Johnson announces new nationwide lockdown to curb coronavirus

Yohay Elam FXStreet

UK Prime Minister Boris Johnson has announced a second broad lockdown from Thursday, November 5, and until December 2. The PM has said, "The virus is doubling faster, that we can conceivably add capacity." Leaving home is restricted to limited, essential activities.

Johnson has also announced that the furlough scheme will extend for another month. Nevertheless, the UK will likely struggle.

Chief medical officer Chris Whitty explained that there are now some 50,000 cases per day and that several hospitals have more COVID-19 patients than in the spring. Chief scientific officer, Sir Patrick Vallance, warned that admissions to hospitals could top the peak of the previous wave within the next six weeks.

Speculation about a lockdown circulated ahead of the announcements. France and Germany announced similar measures on Wednesday. The move comes ahead of the Bank of England's rate decision on Thursday, alongside its quarterly Monetary Policy Report. The BOE may announce sub-zero borrowing costs.

More GBP/USD: Trump or Biden? Brexit, central banks, covid all promise explosive week

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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