Pound (£)

The Pound has weakened as the rules set within the Coronavirus Act could be extended this week until October. In addition, the market is looking for any developments of further tension between the UK and EU regarding both the AstraZeneca vaccine and any supply issues.

Euro (€)

Rising coronavirus cases in Germany have led to a four-week extension of the national lockdown whilst Italy remains under restrictions as well. As a result, the Euro remains weak against the Dollar.

Dollar ($)

The Dollar has seen some renewed demand for its safe-haven status. Turkish President Erdogan sacked the Governor of Turkey’s central bank which had a large negative impact on the Lira, prompting flows into the greenback. Several FOMC members as well as Fed Chairman Powell will be speaking today which may cause some volatility.