- Posted by currencies in Rate Alerts
- May 21, 2020
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Sterling edged up against the U.S. dollar but fell versus the euro as clouds lingered over the pound after UK inflation fell below 1% to its lowest in nearly four years.
The drop in inflation fuelled speculation that the Bank of England (BoE) would cut interest rates below zero to bolster an economy hammered by the coronavirus pandemic.
Britain’s system for tracing those with the coronavirus was under fire today as it grappled with the development of a tracking app and health workers warned the government that unless there was clarity it could suffer a second deadly wave.
Prime Minister Boris Johnson said on Wednesday a “world-beating” programme to test and trace those suspected of having been in contact with people who have tested positive for COVID-19 would be in place by June 1.
Britain is currently testing the app – based on Bluetooth – on the Isle of Wight off the southern coast of England where the government says more than half the residents had downloaded it.
GBP/EUR 1.1130 GBP/USD 1.2209 GBP/AED 4.4777
GBP/AUD 1.8588 GBP/CHF 1.1800 GBP/CAD 1.6994
GBP/NZD 1.9951 EUR/USD 1.0958 GBP/ZAR 21.778