UK's Sunak: We are past the acute phase of economic crisis

The UK is past the acute phase of the economic crisis, UK Chancellor of the Exchequer Rishi Sunak told Bloomberg TV on Friday. "The bar for company bailouts is exceptionally high," Sunak added.

Market reaction

These comments seem to be helping the market sentiment remain upbeat. As of writing, the UK's FTSE 100 Index was up 1.55% on the day at 6,243 points. Meanwhile, The GBP/USD pair was posting small daily losses near 1.2400.

At the top of the hour, the Bank of England (BoE) will release its Quarterly Bulleting for the second quarter.