The Pound has strengthened against the Euro and Dollar with the UK vaccine programme progressing past the 18 million mark. In addition, a review of the use of vaccine passports has also been welcomed by the market whilst the UK’s readiness to allow the EU until April to ratify the Brexit bill has also helped.
ECB President Lagarde has said that the central bank is monitoring increasing sovereign bond yields which has caused concern that they may intervene in the market. Germany’s slow vaccine rollout has put the Euro under pressure for the time being.
US CB consumer confidence beat the market’s expectations at 91.3 compared to 90.2 that was forecast which led to the Dollar weakening across the board. Several FOMC members will be speaking later in the day which could cause some volatility.