"The UK’s controversial Universal Credit payment which lumps several benefits into one is likely to be increased for the rest of the year as unemployment is set to climb towards a high close to 8%.

The latest data showed that unemployment rose to 5.1% from 5%, but the real test will come as firms that relied on their staff being paid by the Government find cashflow impossible to manage and either close or drastically reduce their workforce.

The budget that will be delivered by the Chancellor next week will be a delicate balancing act between not just support and regaining control of the economy but also a matter of support being targeted while the level of borrowing is brought back to acceptable levels.

Unemployment will become the major issue globally as working methods that have been adapted to suit lockdown conditions become the norm.

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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.