The Pound has continued to make gains against both the Euro and the Dollar. Bank of England Governor Bailey has said that he is cautiously optimistic about the UK’s economic recovery this year. In addition, consumer confidence hit s 12-month high in February which is also a positive.
The Euro remains on the back foot as the slow rollout of coronavirus across the continent continues. However, the Bank of France believes that French economic growth for 2021 should be over 5% which will help them avoid a double-dip recession.
With US Treasury bond yields declining, there has been less demand for the Dollar which has led it to weaken across the board. Leader of the House of Representatives Pelosi believes that the $1.9tn fiscal package could be approved by the House on Wednesday instead of today.