The pound lost some ground against the euro yesterday, which it appears to be making up this morning, following confusion over the UK’s ‘muddled’ strategy for easing lockdown restrictions.
The UK’s recovery is being described as expected to be a ‘deep U’ rather than an immediate uptick, with non-essential retail businesses being phased back in from 1st June and hairdressers and places of worship from 4th July. The possibility of household bubbles being extended, like in New Zealand, is being looked into, but there is nothing concrete yet.
Reuters reports that Treasury sources say the furlough scheme will be extended at 60% through the summer until September. Rishi Sunak is set to announce changes ‘as early as Monday’, which will confirm (or not) the rumour.
