The Pound has continued to perform well against both the Euro and the Dollar as Prime Minister Johnson laid out his 4-stage plan to ease lockdown restrictions. The UK unemployment rate has increased to 5.1% although this was expected whilst average earnings and the claimant count change beat forecasts.
Yesterday, German ifo business climate data came out better than anticipated at 92.4 instead of 90.5. This has given the Euro some support against a weaker Dollar but it has struggled against a stronger Pound.
The US House Budget Committee has voted to progress to the next stage of signing off the proposed $1.9tn fiscal package. This has kept the demand for the Dollar’s safe-haven status low which has led to the greenback weakening against the Pound and Euro.