UK COVID Resurgence... Pound Falls Amid 'Mini Lockdown' Possibility

Boris Johnson, Prime Minister of the United Kingdom [Photo by AP Yonhap News]

[Asia Economy Reporter Kim Eun-byeol] The value of the pound has been declining amid the possibility of a second lockdown in the UK due to the resurgence of the novel coronavirus infection (COVID-19).

As of 12:14 PM local time on the 21st, the pound-to-dollar exchange rate is trading at $1.2852, down about 0.5% compared to the previous trading day. This is the lowest level since the 15th.

The pound's value fell as expectations grew that the UK might implement a two-week mini lockdown. Experts have been expressing concerns over the recent serious resurgence of COVID-19. UK Prime Minister Boris Johnson reportedly met with ministers and health officials over the past weekend to discuss lockdown measures.

The UK Telegraph anticipated that Prime Minister Johnson would announce new measures as early as the 22nd during a press conference. Rather than a full lockdown, it is highly likely that a 'mini lockdown' will be implemented, restricting operations of pubs and restaurants and banning gatherings between households.

Along with the decline in the pound's value, the UK FTSE 100 index has also continued to fall. Currently, the FTSE 100 index is trading at 5,810.11 points, down 3.28%.

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