UK PM Johnson's spokesman: PM to discuss coordinated action overnight with BoE Governor

British Prime Minister Boris Johnson will discuss the latest developments in global markets and a coordinated action overnight with Bank of England Governor Bailey and Finance Minister Sunak, a government spokesman told reporters on Monday, per Reuters.

"PM will discuss social distancing measures to protect elderly and vulnerable at government emergency meeting on Monday," the spokesman added. "We continue to hold discussions with the EU on facilitating talks on the future relationship to take place."

GBP/USD reaction

The GBP/USD pair struggles to gain traction despite the broad-based USD weakness and was last seen trading at 1.2290, adding only 0.11% on the day.