UK Chancellor Sunak told to safeguard recovery or watch it fail – Times
Early Thursday morning in Asia, The Times came out with the news suggesting further easy money policies from the UK. The reason could be spotted in the employment organizations’ and unions’ push to British Chancellor to keep supporting their workers.
Key quotes
Business leaders and trade unions have urged the government to provide continued support for workers to prevent the nascent economic recovery from petering out as furlough scheme is expiring in October.
Responding to GDP figures that show that economy was two months into a recovery from the deepest recession on record, employer organizations and unions told the Chancellor, Rishi Sunak, to extend furlough or cut employment taxes to avert a jobs disaster.
Fx implications
Despite being positive for the GBP/USD pair, the news fails to put a bid under the quote while flashing 1.3030 as the quote by the press time.