Boris Johnson will hold an emergency meeting later today after countries made the decision to shut their borders to Britain following the emergence of a super-infectious strain of COVID-19.

The Prime Minister has been warned of "significant disruption" around the Channel ports in Kent – with freight from Europe via France being blocked.

Severe travel restrictions have also been imposed on Britons hoping to travel to a number of European destinations, including Germany, The Netherlands and Ireland.

The shock news has unsettled investors with Sterling on course for its worst performance in almost three months.

The Pound is down 1.14 percent against the US dollar and was trading at £1-$1.3336.

Rodrigo Catril, National Australia Bank's senior currency strategist in Sydney, said: "The lockdown news and the stalemate on Brexit is keeping the market nervous

"Dollar strength is largely being driven by the move lower in the pound."

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