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The UK’s deputy PM, Dominic Raab, will take charge of the economy, as deputized by the PM Boris Johnson. While taking the charge, the Deputy said, as per The Sun, “The Prime Minister asked me to deputize for him, where necessary, in driving forward the Government’s plans to defeat coronavirus.”

Key quotes

“As you’ll know he’s been receiving excellent care at St Thomas’s hospital.”

“And we’d like to take this opportunity as a government to thank NHS staff up and down the country for all of their dedication, hard work and commitment in treating everyone who’s been affected by this awful virus.”

“There’s an incredibly strong team spirit behind the Prime Minister, and making sure that we get all of the plans the Prime Minister’s instructed us to deliver to get them implemented as soon as possible.”

FX implications

Although this news suggested a minor blow to the Cable, considering the temporary change in the political leader, GBP/USD showed no major reaction while taking rounds to 1.2230 amid the early Tuesday morning in Asia.