Early Monday morning in Asia, The Times came out with the news suggesting that the policymakers in the UK are considering a strict ban on socializing amid the recent surge in the coronavirus (COVID-19) cases.
The report says that the new lockdown measures put forward a complete closure for all pubs, restaurants and bars for two weeks initially.
Households would also be banned indefinitely from meeting each other in any indoor location where they were not already under the order, the report mentioned.
In a separate report, The Sun also quoted a spokesperson for the London Mayor Sadiq Khan while saying, "London is at a very worrying tipping point right now. We’re seeing a sharp rise in 111 calls, hospital admissions, and patients in ICU. Whilst Londoners have made incredible collective sacrifices to reduce the spread of Covid-19, the number of cases is now rising steeply again and we have to take immediate action to get the virus back under control."
Following the news, GBP/USD fades the upside momentum portrayed at the day’s start while stepping back from the intraday high of 1.2777 to currently around 1.2765.
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.