Pound (£)

Yesterday, UK construction PMI data beat the market’s expectation which gave the Pound a boost against the Euro. The MHRA has also signalled a willingness to fast-track vaccines designed to target new coronavirus variants which was also seen as a positive for the Pound.

Euro (€)

German factory orders came out at 1.4% compared to 0.4% that was forecast. However, the decision by Italy to block a shipment of 250,000 doses of the AstraZeneca vaccine due to be sent to Australia led to a weaker Euro as this triggered concerns for the slow Eurozone vaccination rollout.

Dollar ($)

Federal Reserve Chairman Powell said that rising US Treasury bond yields had caught his attention, which gave the Dollar strength overnight. At 1:30pm, US non-farm payrolls, average earnings and the unemployment rate will all be released which is likely to create some short-term volatility.