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British Finance Minister Rishi Sunak is expected to announce that they have extended the furlough scheme until March, Reuters reported on Thursday, citing BBC’s political correspondent Nick Eardley. 

Eardley further noted that it’s not clear if the scheme will remain unchanged at 80%.

Market reaction

Following this development, the UK’s FTSE 100 Index retreated from highs and was last seen gaining 0.45% on a daily basis at 5,910. Meanwhile, the GBP/USD pair continues to push higher and is currently up 0.66% on the day at 1.3070.