Sterling staged its own V-shaped recovery yesterday, dropped sharply against all major currencies following comments from the Bank of England that it is preparing for negative interest rates, but recovering close to where it started by the close, following positive comments from the EU on trade negotiations.
The government admitted that it had been unprepared for the surge in demand for Covid tests, as over 3,000 new daily cases were recorded for the sixth time this week. Test numbers should double by the end of October, said several spokespeople and Ministers. Even so, they are actively considering further social distancing measures.
Britain is not alone; Spain and France are both seeing well over 10,000 new cases daily.
Interest rates remained unchanged for now, however, as is the level of quantitative easing.
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