GBP/USD is trading above 1.26, as markets are trying to stabilize from the sell-off triggered by fears of a new wave of coronavirus in the US and Fed pessimism. UK GDP plunged by 20.4% in April, worse than expected.
Financial Times reported Thursday that the high-level summit between the U.K. PM Boris Johnson, European Commission President Ursula von der Leyen, and European Council President Charles Michel is set to take place on June 15.