The British Chamber of Commerce, in its latest Business Tracker report, said that the UK companies were struggling with cashflow problems amid post coronavirus pandemic slow recovery.
Additional takeaways
“Most sectors had reopened for business.
More than a third of businesses said that they had less than three months’ worth of cash reserves.
The economy is struggling to regain momentum.
Fears about whether businesses are strong enough to cope with a second lockdown.”
Market reaction
GBP/USD erases gains to trade flat at 1.3240, as the pound remains unperturbed by the above comments amid a broad-based US dollar bounce. Focus shifts to the UK CPI and FOMC minutes.
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