The Pound remains very much unchanged against the Euro following Dominic Cummings revelations at Parliament yesterday. There has been little on the economic front this week, but Sterling is now lower against the USD Dollar having traded in Asia at one point just below $1.4100 ahead of today’s US data release.

Global stocks/indices drifted slightly lower as the Dollar traded on the firmer footing during Tuesday’s session. Investors await the latest GDP readings from the USA as well as tomorrows latest inflation data (core price index and personal spending). The first round of trade talks between China and the US under Biden’s administration were reported to have been ‘candid and pragmatic’.

The Euro failed to hold above the weekly highs of EUR/USD 1.2250 and drifted lower as tighter ranges persist in most major currency pairings. Early German consumer confidence readings came in better than consensus, this had little effect on the exchange rate when released at 7am.

Opening interbank levels:
GBP/USD 1.4112
GBP/EUR 1.1573
EUR/USD 1.2195