Comments by UK finance minister, Rishi Sunak
- We are past the acute phase of the crisis
- Furlough scheme will last for up to eight months
- We cannot protect every job despite unprecedented action
- The best way to protect jobs is to have businesses reopen
- The most important thing now is to safely reopen the economy
Sunak is just reaffirming the government's plans to move forward with the economic reopening, justifying the recent actions from a labour market perspective here.
I don't see this as anything too related but the pound did slip to a session low as he is speaking, with cable easing to a fresh four-day low under 1.2400 as support around the figure level starts to give way.
There is mild support around 1.2385 currently but beyond that, cable may be headed for more of a test towards 1.2336-50 next. Looking towards the sessions ahead, be wary about potential month-end Buba demand in EUR/GBP as well.
