Britain's pound hit a five-month low against the dollar and traded close to a five-week low against the euro on Tuesday, as broad demand for the safe-haven dollar amid a global surge in coronavirus infections kept investors jittery.
England lifted all COVID-19 social restrictions on Monday, in what local media dubbed "Freedom Day", although looming over the end to lockdown measures was a surge in infections caused largely by the highly contagious Delta variant of the virus.
"Driving the under-performance is the sense that the UK government will struggle to ride out the surging case numbers before resorting to fresh lockdowns."
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