Investors have displayed a lack of confidence in the UK’s emergence from lockdown this week, with the British pound dropping to hit a three-month low, falling by five per cent.
While urging the public to continue to exercise caution, the UK government has lifted the majority of restrictions in place across the nation. The week beginning July 12 was the poorest week in a month for the pound compared to the dollar, and on the so-called “Freedom Day” of July 19 itself, it hit its lowest performance since February.
International markets have showed strong indicators of the risk-aversion demonstrated by investors, with stocks falling and safe currencies acquired. Market analysts have cited concerns regarding the coronavirus’s new Delta variant fears of possible inflation as the specific forces driving a more cautious approach.
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Financial strategists have commented that the world will now be watching what happens next in the UK with considerable interest as it attempts to carve a path back to normality. While Britain has been heavily impacted by COVID-19, in comparison to other countries in Europe it is ahead with its dedicated rollout of the vaccine, with around 46 million people having already received at least one dose.