The Pound continues to weaken after the release of worse than expected consumer price index inflation data. Concerns that the EU could block shipments of the AstraZeneca vaccine into the UK are also weighing on the Pound for the time being.
The Euro has seen some support with better than anticipated French and German flash manufacturing and services PMI figures this morning. The third wave of the coronavirus across Europe is also having a negative impact with many major economies across the EU have reintroduced lockdown measures.
The Dollar has performed well as both Federal Reserve Chairman Powell and Treasury Secretary Yellen have vowed to help assist the country in its economic recovery. The greenback’s safe-haven status is also being considered as tax hikes in the US will be needed to pay for the recently announced infrastructure spending.