UK’s Sharma: I hope the impact on the economy will be short term

Alok Sharma, the UK Business Minister, said in a statement on the coronavirus pandemic on Friday, “I hope the impact on the economy will be short term. “

“I don't think we are crashing the economy; we are providing support for businesses and citizens,” Sharma added.

GBP/USD tests 1.2200

The pound ignores the above comments, as GBP/USD extends the drop and test the 1.2200 demand area amid a broad-based US dollar rebound. Uncertainty over the EU-UK post-Brexit talks combined with rising coronavirus cases globally keep the upside capped in the spot.