The pound weakened yesterday and is still soft against the euro and dollar this morning, after the UK’s Chief Medical Officer, Professor Chris Whitty, addressed the nation and warned that coronavirus cases could rise significantly over the next month.
An emergency meeting is being held by the Prime Minister this morning and he is due to address the nation at 8pm this evening. The markets will be looking out for any news of further restrictions. It has already been announced that pubs in England will close at 10pm from Thursday.
Federal Reserve Chairman, Jerome Powell, will make a speech in Congress today. It’s hoped that he will shed some light on the Fed’s approach to inflation, as well as the current economic situation in the US.
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