In its pre-release e-copy, The Times mentions about UK Chancellor Rishi Sunak’s announcement over the beta version of a national furlough program. The news mentions that the British Finance Minister is up for testing a two-third pay system for workers of the businesses closed due to the coronavirus (COVID-19).
Details of the news suggest the announcement will be made on Friday that will allow the business to avail the government help as long as pubs, restaurants and other businesses are closed.
Market reaction
GBP/USD shrugs off the news, despite swift reaction with a seesaw move between 1.2925 and 1.2940, by the time of the press. The pair traders are more interested in Brexit headlines and COVID-19 news than the stimulus updates, as it seems.
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