The Pound US Dollar (GBP/USD) is managing to advance at the start of the new week, extending gains from last week despite a challenging climate. GBP/USD traders +0.3% at US$1.2958.
A recent jump in coronavirus cases has seen large parts of the UK experience tighter lockdown restrictions. London could be next.
Meanwhile the Chancellor will extend business support loans, whilst a survey from BDO pours water on any V-shaped recovery.
The US Dollar is trading on the back foot after Trump agreed in concept to Orcale’s purchase of Chinese TikTok. A US judge has also delayed the banning of Chinese WeChat downloads, which was expected to come into force from Sunday evening.