UK Finance Minister Rishi Sunak noted on Tuesday that the UK budget deficit would be large by historical standards and said the biggest uncertainty relates to falling tax revenues.
Additional things to remember
“The big budgetary question in the medium term is how much the structural budget deficit will be after the crisis.”
“It is not clear that there will be an immediate rebound after COVID.”
“The UK has been very clear on its intention not to extend the Brexit transition period.”
GBP / USD ignored these comments and was last seen up 0.55% on a daily basis at 1.2255.