Foreign secretary Liz Truss will promise on Tuesday to bring in "tough and decisive action" to limit strike action by trade unions if she becomes Britain's next prime minister, the latest salvo in a divisive fight to lead the Conservative Party, per Reuters. The news conveyed comments from a statement as the UK PM race intensifies.

Key comments

We need tough and decisive action to limit trade unions’ ability to paralyze our economy.

I will do everything in my power to make sure that militant action from trade unions can no longer cripple the vital services that hard-working people rely on.

GBP/USD bulls take a breather

GBP/USD grinds higher around 1.2050, after refreshing the monthly peak with 1.2086 the previous day.