UK’s Hancock: Trying to slow coronavirus spread so we have time to build capacity in health system

The UK Health Secretary Hancock was on the wires in the last minutes, via Reuters, noting that “we are trying to slow the spread of coronavirus so we have the time to build capacity in the health system.”

Key quotes

Some top engineering companies have already got a prototype of ventilator ready.

We need as many ventilators as we can possibly make and we shall buy them.

There is capacity in intensive care across the system though there are some hot spots.

We are distributing protective kit at pace to hospitals, doctors and pharmacists.

Hopes newly made ventilators will be approved for use in hospitals by end of next week.

On panic buying: people need to shop responsibly and buy only what they need.

If people do not follow the advice then we may need to impose tougher measures.

GBP/USD bounces 400-pips on Friday

GBP/USD is looking to extend its over 400-pips recovery from a three-decade low of 1.1414 reached in early Asia, as the spot trades near 1.1850 levels, up 3.15% on the day.

• GBP/USD: Outlook remains negative