The UK is set to reopen its economy in gradual steps separated by five weeks, a cautious approach. The BBC’s Laura Kuenssberg is reporting about the highly-anticipated speech by Prime Minister Boris Johnson due late in the day. Details about the return to schools, hospitality, and other economic activity will likely be published during the day.
Investors had been expecting a faster return to normal amid the sharp fall in COVID-19 cases, hospitalizations and deaths. GBP/USD is trading just below 1.40, down from the highs of 1.4052 early in the day. The US dollar is edging higher alongside higher yields on American debt.
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