UK PM Boris Johnson said on Monday that the way forward is to continue on the same path (no explicit lockdowns), but also to keep everything (i.e. the potential for further restrictions) under review. Pressure on hospitals will be considerable over the next few weeks, Johnson added, saying that the majority of people in intensive care are either vaccinated or boosted. The mixture of things we are doing at the moment, he added, is the right one. 

Market Reaction

FX markets have not seen any notable reaction to the latest comments from Johnson. If momentum/speculation of a tightening of curbs in the UK starts to build once again, this is a near-term downside risk for GBP.