“Let the bodies pile high” is better than having another lockdown – these insensitive comments attributed to UK Prime Minister Boris Johnson refuse to die down. Downing Street’s denials were rebuffed by additional sources and they put the PM in a pickle.

Having to deal with scandals may hobble the government’s efforts to push the economy forward despite the impressive vaccination campaign. That is weighing on the pound.

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On Monday, the British Pound dropped by 54 pips or 0.42% against the US Dollar. The currency pair tested a support cluster near the 1.3880 area during the Asian session on Tuesday.

The exchange rate bounced off the 55- and 200- hour SMAs support level on Tuesday morning. Most likely, buyers could pressure the GBP/USD pair higher within this session.

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