UK’s Barclay: Economic recovery is fragile


Despite the signs of life, the UK economic recovery remains fragile amid the ongoing coronavirus crisis, said the Deputy Finance Minister Stephen Barclay in an interview with Sky News.

Barclay said: “After what was a very severe contraction in the economy, we had seen over recent months some recovery, but obviously that recovery is fragile.”

His comments come after the UK Finance Minister Rishi Sunak announced new support for jobs.

Market reaction

The above comments have little to no impact on the pound, as GBP/USD challenges daily highs near 1.2800 amid renewed Brexit optimism.

An EU official reportedly said that the tide may be turning despite no big breakthroughs, per Politico. The spot was last seen trading at 1.2787, up 0.28% on a daily basis.

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD under pressure under 1.1850 amid US election concern

EUR/USD is under some pressure below 1.1850 the anti-risk dollar is drawing haven bids on reports of meddling in US elections and fading prospects of an imminent US stimulus deal. US jobless claims are eyed.

EUR/USD News

GBP/USD drops below 1.31 amid negative rate talks

GBP/USD has slipped under 1.31 after BOE member Haldane reiterated the bank is studying negative rates. Earlier, the resumption of Brexit talks boosted the pound. Coronavirus measures and restrictions are eyed.

GBP/USD News

Gold off lows, still in the red around $1920 region

Gold traded with a mild negative bias through the early European session, albeit has managed to trim a part of its daily losses to the $1911-10 region.

Gold News

Forex Today: Foreign intervention in US elections weighs on mood, jobless claims, politics eyed

Concerns about foreign intervention in the US elections have weighed on the market mood, allowing the dollar to recover after Wednesday's losses. Intense Brexit talks resume in London, boosting the pound.

Read more

WTI Price Analysis: Recovery remains capped below 100-DMA

WTI (futures on NYMEX) is fading its recovery attempt in the European session this Thursday, as the risk-off sentiment dominates amid surging coronavirus cases in the Old continent and diminishing prospects of a US fiscal stimulus deal. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures