Search ForexCrunch

The UK is ready to ease short-term cash flow burden on businesses that are impacted negatively by the coronavirus outbreak and will give the country’s health service whatever funds it needs, British Finance Minister Rish Sunak told Sky News on Sunday.

“There will be no extension of the Brexit transition period,” Sunak added. “I believe strongly in sound and responsible management of public finances. Coronavirus represents a short-term challenge.”

GBP/USD

The GBP/USD pair gained 250 pips last week and closed at 1.3050 boosted by the broad-based selling pressure surrounding the greenback throughout the week.