Pound (£)

The pound remains well supported as Boris Johnson confirmed the UK’s unlocking road map yesterday. This has underpinned the expectations for stronger UK growth ahead of the easing of restriction hopes with the UK reporting just 10 Covid deaths for two consecutive days. The pound could however run into headwinds over the coming weeks due to expectations of a drop of vaccine supplies to the UK in April.

Euro (€)
The Euro has stabilised over the weekend but remains under pressure overall as the vaccination drive in Europe continues to struggle and new Covid cases and lockdowns across the continent take hold.

US Dollar ($)
The US dollar has given back some of its recent gains over the weekend but remains well supported. Strong US job growth reported on Friday on the back of easing restrictions, declining Covid infection rates, rapid distribution of vaccines and a strong fiscal stimulus should continue to lend support.