UK Chancellor Sunak: Economic measures announced total £30 billion

UK Chancellor Rishi Sunak continued providing further details about his spending plans to help the economy to recover from the coronavirus pandemic.

Key highlights:

• VAT on hospitality and tourism will be cut for the next 6 months.
• UK to cut VAT to 5% for the hospitality sector.
• In August we will give everyone eating out discount, meals will be cheaper Monday to Wednesday.
• Customers can enjoy up to £10 off meals and non-alcoholic drinks per person in eligible cafes, pubs and restaurants.
• Economic measures announced total £30 billion.

Meanwhile, the GBP/USD pair maintained its mildly positive tone above mid-1.2500s, albeit lacked any strong follow-through buying interest.