The UK Chancellor Rishi Sunak is expected to undertake another bold move, as per The Telegraph, to ward off the negative implications of the coronavirus (COVID-19). The news, released amid the early Friday morning in Asia, mentioned that the UK diplomat considers effectively paying workers weekly subsidy in what would be the biggest state intervention in the economy since the war. Key quotes Two measures under discussion include subsidizing wages by freezing income tax payments during the crisis and giving National Insurance tax breaks. Rishi Sunak, putting the finishing touches to the package, has also been in discussions about paying workers a weekly subsidy in what would be the biggest intervention by the British state in the economy since the Second World War. FX implications Following the news, the GBP/USD pair dropped to the fresh low since 1985, 1.1438, while currently taking rounds to 1.1465. The risk-off mood gains additional strength with the news, which in turn helps the US dollar regain its strength. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Thai fintech firm DeeMoney partners with Ripple FX Street 2 years The UK Chancellor Rishi Sunak is expected to undertake another bold move, as per The Telegraph, to ward off the negative implications of the coronavirus (COVID-19). The news, released amid the early Friday morning in Asia, mentioned that the UK diplomat considers effectively paying workers weekly subsidy in what would be the biggest state intervention in the economy since the war. Key quotes Two measures under discussion include subsidizing wages by freezing income tax payments during the crisis and giving National Insurance tax breaks. Rishi Sunak, putting the finishing touches to the package, has also been in discussions about paying workers… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
