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Early Monday morning in Asia, The Times came out with the news suggesting that the policymakers in the UK are considering a strict ban on socializing amid the recent surge in the coronavirus (COVID-19) cases.

Key quotes

The report says that the new lockdown measures put forward a complete closure for all pubs, restaurants and bars for two weeks initially.

Households would also be banned indefinitely from meeting each other in any indoor location where they were not already under the order, the report mentioned.

In a separate report, The Sun also quoted a spokesperson for the London Mayor Sadiq Khan while saying,  “London is at a very worrying tipping point right now. We’re seeing a sharp rise in 111 calls, hospital admissions, and patients in ICU. Whilst Londoners have made incredible collective sacrifices to reduce the spread of Covid-19, the number of cases is now rising steeply again and we have to take immediate action to get the virus back under control.”

FX implications

Following the news, GBP/USD fades the upside momentum portrayed at the day’s start while stepping back from the intraday high of 1.2777 to currently around 1.2765.

Read: GBP/USD: Virus woes probe bulls targeting 1.2800