Pound Extends Gains as PM Johnson Remains in ICU but in 'Stable' Condition

Forex1 hour ago (Apr 07, 2020 02:32PM ET)

By Yasin Ebrahim

Investing.com – The pound extended its rally pound against the dollar on Tuesday as investors digested news that Prime Minister Boris Johnson remained in intensive care and his condition was “stable.”

GBP/USD rose 0.94% to $1.2344, to trade close to session highs of $1.2385.

U.K. Foreign Secretary Dominic Raab, who is deputizing for the prime minister, said Johnson remained in critical care but his condition was “stable” overnight.

“He’s receiving standard oxygen treatment and breathing without any assistance, he’s not required any mechanical ventilation or non-invasive respiratory support,” Raab added as he delivered the daily coronavirus press conference.

There will be no further update on Johnson’s condition until Wednesday, according to U.K media reports.

The Covid-19 pandemic has infected more than 51,000 in the U.K., with the death toll rising to nearly 5,400.

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