UK furlough scheme could be used to support firms hit by no-deal Brexit – The Telegraph

Early Tuesday morning in Asia, The Telegraph came out with the news suggesting the British government’s another move to battle the Brexit woes.

The news reports, based on sources, that the Tory policymakers may stretch job retention programs beyond January 01 to support businesses impacted by no-deal Brexit disruption.

“Businesses could access wage support, grants and emergency loans already set up by finance minister Rishi Sunak to deal with the effects of the coronavirus pandemic,” said the piece.

FX implications

GBP/USD seesaws between 1.3310 and 1.3330 after the news. The reason could be the mixed feelings concerning the government’s preparedness for a no-deal Brexit and hopes of further stimulus.