UK PM Johnson to reveal tax rise for 25 million people to pay for social care - The Telegraph

Late Thursday, The Telegraph came out with the news suggesting that the UK PM is on the way to announce next week a tax hike to pay for an overhaul in social care.

Johnson will reveal a rise in national insurance that will see around 25 million people pay extra tax, the report said.

FX implications

Although the news should have ideally weighed on the GBP/USD prices, the cable edges higher around 1.3835-40, the highest level in 13 days by the press time.

Read: GBP/USD bulls take on the dynamic resistance ahead of critical NFP data