The Pound performed well yesterday as the market remains optimistic that lockdown restrictions will be eased further in line with the government’s plan. But recent polls show that pro-independence Scottish parties are likely to have a super-majority at the upcoming parliamentary election, which has caused some nervousness and kept the Pound from strengthening even further.

The Euro has shown some signs of support as Eurozone preliminary GDP data as well as the unemployment rate both surprised the market on Friday morning. However, both the Pound and the Dollar have strengthened further which has ultimately kept the Euro from performing well against its main rivals.

The Dollar has staged a recovery driven by its safe-haven status. A combination of worse than expected US ISM manufacturing PMI data along with some dovish comments about the US economy by Federal Reserve Chairman Powell were the main causes of this.