UK PM Johnson very cautious about easing lockdown – The Times

Anil Panchal FXStreet

Unlike his US counterpart UK PM Boris Johnson is very cautious about easing lockdown as per the Tory leader's comments appeared in Monday’s Times. Earlier during the day, Financial Times came out with the news that there are 21,000 more UK businesses collapsed in March than the same month a year ago, which in turn registers 70% increase in the failures.

Key quotes

PM Johnson told colleagues that he is very cautious about easing lock-down restrictions.

His "over-riding concern" is avoiding a second wave of the coronavirus pandemic.

Raised conceits that lifting restrictions too soon could result in a "second peak' and bring another lockdown with a significant cost to health and the economy.

FX implications

The news fails to have any immediate impact on the GBP/USD pair may be due to the Asian session’s emphasis on commodity-linked pairs. Though, the quote might struggle to extend the latest recovery, at 1.2500 now, during the UK session if any more cautious statements from No10 rolls out.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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