Surprisingly quick turn in cases
The UK reported another 36,389 covid cases today. That’s down from 39,315 yesterday and the 54,205 on July 17.
The quick drop after the sharp run-up has puzzled scientists who are speculating about a lack of testing, reluctance to report covid due to unwillingness to self-isolate and good weather.
Whatever the reason, the trajectory is looking much better than it did a week ago. Hospitalizations are also far below prior peaks (by a factor of 5x).
Cable looked to be breaking below the major March/April double bottom earlier in the week but has quickly bounced back above it and will almost-certainly close there to end the week.
Keep an eye on the numbers but they certainly look much better than seven days ago.
This article was originally published by Forexlive.com. Read the original article here.