Pound (£)

The Pound has weakened as concerns mount about the Brazil virus variant that was detected in the UK. In addition, some members of Parliament have put pressure on Lord Frost to ban bottled water being imported from the EU in response to the EU banning unprocessed shellfish from the UK.

Euro (€)

The Euro remains under pressure as German retail sales came out much worse than expected at -4.5% compared to 0.2% that was forecast. Eurozone consumer price index inflation flash estimates are due later this morning which is likely to cause some short-term volatility.

Dollar ($)

The Dollar has strengthened due to its safe-haven status as the spreading of different variants has sparked some renewed fear in the market. Several FOMC members will be speaking this evening with their comments likely to be scrutinised.