GBP/USD: ??? ??????? – Commerzbank
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The best measures cannot contain the fall

GBP/USD is falling down as Prime Minister Boris Johnson is convening his cabinet to decide on additional restrictions. US actions are also eyed, Yohay Elam from NDDFX reports. 

Key quotes

“According to reports, the Cobra panel will announce a move from the ‘contain’ phase to the ‘delay’ one, limiting gatherings.”

“The BoE surprised markets with an unscheduled double-dose rate cut – from 0.75% to 0.25%.”

“The UK government open its purse strings for coronavirus research, relief for workers and the wider population, and a leap in infrastructure spending.”

“Broader markets are struggling after US President Donald Trump failed to impress the public and investors by announcing limited measures to help employees while banning flights to and from Europe – excluding the UK.”

 

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