The Pound remains buoyant with news that a fourth vaccine, Novavax, will arrive in the country at the end of next month. UK final GDP data came out better than forecast at 1.3% instead of 1.0% which has also helped the Pound hold its recent gains.
The Euro remains on the back foot due to the slow vaccine rollout on the continent. French consumer spending and preliminary consumer price index inflation data both disappointed the market this morning.
US consumer confidence data beat the market’s expectations yesterday which led to less demand for the greenback’s safe-haven status. The focus today will be on President Biden’s speech in which he will address economic issues such as potential tax-hikes and his recently announced infrastructure plan.