FXStreet reports that according to Westpac’s economists, the UK appears to have passed its peak COVID-19 cases, but the lockdown is to remain in place until mid-May. With little data of note, GBP/USD range may edge up to 1.23-1.28.

“UK PM Johnson has pushed back on prospects for any relaxing of social distancing before mid-May and so the pressures on the economy are set to persist.

“UK’s lockdown has been less stringent than the likes of Italy but the case tally and death toll, though seen as flawed, are similar, suggesting that the peak is in place and cases should fall over the next week.” 

“The peak may allow GBP/USD to lift into a slightly firmer 1.23-1.28 range again into the BoE updates.”