The Internal Market Bill will be debated in the House of Commons throughout the day which will remain the focus for the Pound. Ex-Prime Ministers Blair and Major as well as ex-Attorney General Cox have all warned MPs not to back the bill as it attempts to override certain parts of the Withdrawal Agreement. Irish PM Martin has said that the UK can expect a ‘firm and strong’ response from the EU in relation to this bill. Overall, the Pound remains weak against both the Euro and the Dollar.

ECB President Lagarde has mentioned that fiscal policy from EU member states is critical in combatting the economic effects of the coronavirus and will help retain jobs and support households. She also suggested that keeping job support schemes is vital to avoid a large increase in unemployment at the end of the year. Eurozone industrial production data is due at 10am which may cause some short-term volatility. The Euro remains strong against the Pound and Dollar.

On Friday, US consumer price inflation beat expectations at 0.4% which in turn gave the Dollar a slight boost. However, the focus quickly turned back to the news that the US Senate rejected a fiscal stimulus package worth $300bn because this figure was seen as too small to combat the effects of the coronavirus. News that AstraZeneca has resumed its phase-3 trial of their coronavirus vaccine led to a risk-on approach which also contributed to the greenback weakening.