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“We need to focus on driving a strong economic  recovery,” the UK Finance Minister Rishi Sunak said following the release of the country’s public sector finances data.

 “Government is continuing comprehensive package of support,” he added.

“British public borrowing totaled 31.696 billion pounds ($44.93 billion) in April, the first month of the new financial year, down from 47.315 billion pounds a year earlier when the public finances first felt the full impact of the COVID pandemic,” Reuters reports, citing the official figures on Tuesday.

Market reaction

GBP/USD is closing in on the 1.4200 mark, adding 0.26% on the day, as the US dollar continues to lose ground on the session amid weaker Treasury yields.