Breaking: GBP/USD free-falls under 1.20 as the dollar storms the board

The US dollar is rising across the board amid funding stress as the coronavirus outbreak spreads and as many countries are experiencing lockdowns. 

Stock markets are recovering on Tuesday but major indexes remain well below levels seen before Monday's fall – the worst since 1987.

GBP/USD is down some 250 pips on the day. over 2%. It is nearing the lows seen in September 2019 when fears of a hard Brexit were prevalent. 

-- more to come