Sterling is relatively unchanged from the US close having recovered from yesterday’s lower levels against the US Dollar. Technically, GBP/EUR 1.1600 offers strong resistance as would the GBP/USD 1.4250 zone. However, attempts by the government to control the Indian Covid variant spreading is likely to be key going forward ahead of the final unwinding of lockdown. It is understood that the number of people in hospital battling this virus in Bolton has more than tripled.
USD Global stocks/indices have held onto moderate gains as investor consensus remains Dollar bearish in the medium term across a broad range of currencies. There is no significant data due today from the USA.
EUR The Euro made ground again opening above EUR/USD 1.2200 in the weaker Dollar environment. German Q1 final GDP readings are released today.