The lack of business activity is also a huge factor. People ain't buying nothing. Everything is paused effectively.
Was chatting to dude today who works for the UK treasury. He and many co-workers have been laid off until at least December, the reason why? there is next to no money moving around. The fall out from all these shutdowns etc will be astronomical. We ain't seen nothing yet.
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The governments are just waiting to drop the hammer with the economy's and currencies.
End of conversation
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Capital solvency and interbank lending due to heightened levels of counter party risk/mistrust has been gathering pace for years, but this has now inhaled nitrous
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