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The International Monetary Fund (IMF) Managing Director Kristalina Georgieva called on the UK to ask the European Union (EU) for an extension to its post-Brexit transition period amid coronavirus outbreak induced uncertainty worldwide, per Reuters.

She told BBC radio in comments broadcast on Thursday.

Key quotes

“It is tough as it is. Let’s not make it any tougher.” 

“My advice would be to seek ways in which this element of uncertainty is reduced in the interests of everybody, of the UK, of the EU, the whole world.”

GBP/USD heads back to 1.2500

Amid a retreat in the US dollar across the board, GBP/USD is offered some brief respite, as it recovers towards the 1.25 handle.

At the press time, GBP/USD trades at 1.2486, subtracting 0.21% on the day.