Pound (£)

The Pound has made continued to show its strength against both the Euro and the Dollar due to the efficient vaccine rollout in the UK. However, chief medical adviser Whitty has said that the pandemic is not over and urged caution when reopening the economy.

Euro (€)

Yesterday, Eurozone revised GDP data disappointed the market with a figure of -0.7% compared to -0.6% that was forecast which led to the Euro trading weaker. EU governments have agreed to take legal action against the UK for unilaterally delaying the implementation of part of the Brexit agreement in relation to Northern Ireland.

Dollar ($)

It is expected that the House of Representatives will approve the $1.9tn fiscal stimulus package this evening with President Biden signing the bill into law shortly after. The Dollar saw some further weakness yesterday – the focus remains on US Treasury bond yields going forward.