Chancellor Sunak has given details about his emergency job retention scheme which consists of the government topping up wages of workers with jobs that have been affected by the coronavirus and will start in November once the furlough scheme ends. This gave the Pound some support along with better than anticipated CBI realized sales which surprised the market at 10 compared to -11 that had been forecast.
German ifo business climate data came out worse than expected at 93.4 compared to 93.9 which put the Euro on the back foot. France has seen a record number of daily coronavirus cases with 16,096 recorded. The Ifo Institute believes that Germany is continuing to recovery with exports seeing an increase in demand.
The Dollar has been extremely volatile over the past 24 hours. The greenback has experienced strength due to its safe-haven status due to ongoing concerns about the global economy. However, US unemployment claims for the w