Sterling rises even as Johnson's health conditions worsen

The British pound rose against most of its major counterparts today, to regain its footing after the US dollar dropped.

Sterling rebounded after the market digested the news of Prime Minister Boris Johnson being hospitalized over persistent coronavirus symptoms.

Government sources confirmed that Prime Minister Boris Johnson was transferred to the intensive care unit on Monday after his health worsened due to the Covid-19 infection.

The British government announced that Mr. Johnson assigned the de facto deputy to take charge before the Prime Minister was put on the ventilator.

New infections and deaths from the coronavirus in the UK are increasing, but the government expects to reach the pandemic peak soon.

As of 19:41 GMT, GBP/USD rose 0.9% to 1.2341, after the pair hit a high of 1.2384 and a low of 1.2164.