UK's Sunak: Developing plans to protect jobs and economy over winter

Eren Sengezer FXStreet

In a statement to parliament, British Finance Minister Rishi Sunak said that they are developing plans to protect jobs and the economy over the winter, as reported by Reuters.

Additional takeaways

"People are anxious, afraid and exhausted, I share these feelings."

"The resurgence of the virus poses a threat to the fragile recovery."

"The main goal is to support jobs."

"The economy is likely to undergo more permanent adjustment."

"We must face up to trade-offs and hard choices."

"There are reasons to be cautiously optimistic."

"New measures must be different from before."

"Sources of economic growth will adapt to new normal."

"We need to allow the economy to move forward."

"We must deal with real problems businesses and employees face now."

Market reaction

The GBP/USD pair largely ignored those comments and was last seen gaining 0.25% on the day at 1.2753.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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