The pound fell against the dollar and euro on Monday after British Prime Minister Boris Johnson was admitted to hospital for tests after showing persistent symptoms of the coronavirus.
FILE PHOTO: Pound Sterling notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. REUTERS/Phil Noble
The dollar was on the back foot against the euro after data last week showed companies in the United States shed jobs at break-neck speed as the COVID-19 pandemic leads the global economy into a deep recession. “Coronavirus cases in Japan may not peak for another month, so the markets will think that now it’s Japan’s turn. A state of emergency is necessary, but this could be yen negative.”fell 0.26% to $1.2242 on Monday in Asia. Against the euro, it EURGBP=D3 fell 0.27% to 88.39 pence.
Also weighing on sterling is Britain’s constitution - an unwieldy collection of sometimes ancient and contradictory precedents - that offers no formal deputy or caretaker who would take over if Johnson cannot continue to lead.
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