Alok Sharma, the UK Business Minister, said in a statement on the coronavirus pandemic on Friday, “I hope the impact on the economy will be short term. “
“I don't think we are crashing the economy; we are providing support for businesses and citizens,” Sharma added.
GBP/USD tests 1.2200
The pound ignores the above comments, as GBP/USD extends the drop and test the 1.2200 demand area amid a broad-based US dollar rebound. Uncertainty over the EU-UK post-Brexit talks combined with rising coronavirus cases globally keep the upside capped in the spot.
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.