The coronavirus pandemic is retreating, with fewer cases in Europe and the US, which is helping improve the sentiment in markets and the economy as well. The services data from Europe and the UK earlier this morning showed a nice jump in activity during June as the continent re-opened.

But, Boris Johnson thinks that a second wave might be coming. Even if that was to come, if you were a politician you wouldn’t mention it, just to keep the panic away and the sentiment going for the economy. But, everyone is so eager to shout about a second wave coming, even before the signs show that. So, such comments should be bearish for the GBP if such comments keep coming from BoJo. Below are his earlier comments:

Comments by UK prime minister, Boris Johnson

• It is clear that there is a risk the virus will come back
• We have done very well, but the virus is still there
• We should rely on the common sense of the British people (on the topic of masks)
• Wants everybody to get a flu jab
• Says that NHS needs to be protected during the winter months