"The UK is experiencing its first major setback since the delivery of the vaccine began late last year.
The Indian variant is beginning to ring alarm bells for the full reopening of the economy next month.
The degree of uncertainty that the spread is bringing is casting a long shadow over the pace of growth.
A further lockdown, while unlikely, would spell disaster for the hospitality and leisure industries.
The reopening that took place in April showed that measures at that level are manageable but cannot provide sufficient cash flow for several businesses to survive let alone flourish.
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Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.