The pound faltered slightly yesterday due to news of the Prime Minister being taken into intensive care. However, improved global sentiment and good news about the state of the global financial markets has supported sterling against the euro. This morning, the pound is weaker against the dollar as worries over the health of the Cabinet limits sterling’s gains.
Since the beginning of the day yesterday, there has been positive news that the Prime Minister is in a stable condition and in “good spirits”. In the daily press briefing yesterday, Dominic Raab said that the cabinet is “focused with total unity and resolve” and added that he will deputise for the PM for as long as necessary.
Any further news of the Prime Minister’s health is likely to have an impact on the pound, as well as general coronavirus news. Cabinet Office Minister, Michael Gove, is now self isolating, casting worries over the leadership of the country and the health of the Cabinet.
