Brent crude prices recovered above $40/bbl in June, reaching a high of $43.50/bbl after OPEC+ agreed to extend its output cut for a further month to support the market.

After reaching a high of 1.275 mid-month, GBP declined to 1.230 against USD in June as a result of economic uncertainty and a lack of progress in Brexit trade negotiations.

Fears of a second coronavirus peak following an increase in cases across Asia and the Americas sparked uncertainty over demand recovery during the second half of June.