Following the escalating Covid-19 case in the UK, Prime Minister Boris Johnson is expected to announce new sanctions measures to curb the spread of coronavirus in the country.
Ahead of the announcement, UK Cabinet Minister Michael Gove, who spoke to Sky News, said the school would remain open while the public was encouraged to work from home again.
In addition, pubs, bars, and restaurants across England will be ordered to close before 10pm starting Thursday, while the hospitality sector will be restricted.
Following that, the pound sterling fell to a 2-month low against the USD before rising again following a statement by Bank of England (BOE) Governor Andrew Bailey.
Governor Bailey said the BOE's latest statement at a policy meeting last week did not indicate that the central bank would use negative interest rates.
Instead, it simply says that policymakers need to know how for negative interest rates to be applied and so far, there is still no need to go in that direction.
Even with the increase shown by the pound, however, the currency trading is expected to continue to receive pressure following the latest restrictive measures to be announced in detail by PM Johnson tonight.
