The pound was still under pressure yesterday as the government confirmed that lockdown restrictions would continue. However, it has steadied against both the euro and dollar this morning.
Dominic Raab announced yesterday that social distancing restrictions will be in place for at least another three weeks. Although UK infections are thought to be reaching their ‘peak’, the government have said that it would be premature to ease restrictions at this point.
In Brexit news, the Head of the International Monetary Fund called for the Brexit transition period to be extended in order to reduce uncertainty. However, the Prime Minister’s spokesperson subsequently announced that the period would not be extended. The deadline for the two sides to agree on an extension is the European Council Meeting in June, and there are concerns that there won’t be enough progress made before then.
