Pound LIVE: GBP Sterling stabilises against euro as Rishi Sunak extends furlough

The Chancellor announced in the House of Commons at 12.30pm that the scheme paying the wages for millions of people will continue until the autumn.

More than six million workers at businesses affected by the coronavirus pandemic are currently being paid via the Government programme.

The steadying of the pound came after the exchange rate dipped yesterday amid the confusion over the plans to ease lockdown restrictions.

As of 1pm GMT the pound was trading at 1.1402 against the euro and 1.2373 against the dollar.

More to follow…