Yesterday, the Pound saw some weakness as the Bank of England suggested that they are looking into negative interest rates as a possible tool to help stimulate the economy. In addition, the central bank warned of a prolonged period of unemployment and uncertain economic growth. However, the Pound recovered some of its losses as European Commission President von der Leyen mentioned that a deal can still be agreed to between the UK and EU. Tighter national rules are being considered by the government to combat the increasing number of coronavirus cases in the UK.

Germany as reported having 2,179 new coronavirus cases which is the biggest increase since April, with Europe as a whole seeing a surge in cases too. France has also seen 10,593 new cases which is the most reported since the start of the lockdown. The Euro still remains strong in general due to the upbeat ECB meeting last week.

US unemployment claims increased by 860K over the last week which is more than 825K that was forecast. In addition, the Philly Fed manufacturing index as well as housing starts and building permits figures all fell below expectations which contributed to a weaker Dollar.