Sterling has shown a muted response to a......>

CABLE: Sterling has shown a muted response to a weekend speech from PM Johnson,

who outlined the gov't's plan for easing the lockdown measures. The PM asked all

those who cannot work from home to return to work and announced that some of the

restrictions will be lifted on Wednesday, while the gov't replaced its "stay

home" slogan with "stay alert".

- PM Johnson has faced some backlash over his allegedly vague messaging, with

leaders of Scotland, Wales and North Ireland publicly criticising Downing 10.

- Elsewhere, the Times reported that "furloughed staff only able to return to

work on a part-time basis could have their wages "topped up" by the gov't".

- GBP/USD sits just 4 pips lower, at $1.2406. Bears would be pleased by a drop

below $1.2266, the trough of May 7. This would allow them to take aim at Apr 21

low of $1.2248. Conversely, gains past May 4 peak at $1.2516 would expose Apr

30/14 highs of $1.2643/48.

- UK monthly activity indicators and preliminary Q1 GDP data will be published

on Wednesday. BoE's Governor Bailey makes an appearance on Thursday.