Sterling fell against both the dollar and the euro as Britain showed no signs of easing its lockdown, even as other European countries laid out plans to re-open their economies, boosting global risk appetite.
Greece, France, Spain, Portugal and Italy have all set out their plans to ease lockdown measures in the past few days, boosting market optimism about an economic recovery.
But Britain, which is expected to have one of the worst coronavirus death tolls in Europe, has said it is too early to talk of easing the lockdown and that it will not review social distancing guidelines until May 7.
Even though the dollar fell against a basket of comparable currencies as global risk appetite improved, cable fell, last down -0.2% at $1.2394.
Against the euro, the pound was last down around 0.5% at 87.545 pence.
Source : Reuters