Sterling drops after UK prime minister taken to intensive care

The British pound dropped against the United States dollar on Monday after it was reported that United Kingdom Prime Minister Boris Johnson has been moved into intensive care.

The 55-year-old tested positive for the coronavirus on March 26.

Johnson’s condition has worsened since he was hospitalised with persistent COVID-19 symptoms, his Downing Street office said in a statement.

Sterling dropped to $1.224, from around $1.230 before the report.

Johnson was moved to intensive care on Monday after his coronavirus symptoms worsened. He has asked Foreign Secretary Dominic Raab to deputise, Downing Street said.

Johnson was admitted to hospital on Sunday night and had been undergoing tests after suffering persistent coronavirus symptoms for more than 10 days, but the government had earlier said he was in good spirits and still in charge.

“Over the course of this afternoon, the condition of the Prime Minister has worsened and, on the advice of his medical team, he has been moved to the Intensive Care Unit at the hospital,” a spokesman for his office said.
“The PM has asked Foreign Secretary Dominic Raab, who is the First Secretary of State, to deputise for him where necessary.”