Mayor of London Sadiq Khan said that urgent action is needed to avoid a Tier 3 lockdown in London. His words come as the capital, Sussex and Kent have reported an increase in COVID-19 cases, prompting a potential tightening of restrictions on Wednesday.
GBP/USD has extended its falls in response, hitting a new low of 1.3177. The currency pair is at its lowest levels since November 18.
It earlier dropped in response to Brexit headlines. European Commission President Ursula von der Leyen told EU leaders that the probability of a no-deal exit is more likely than reaching an accord.
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