The Pound has held on to its gains with vaccine deployment minister Zahawi suggesting that the vaccine rollout is going as planned and everyone in the UK will be offered a vaccine by September. Overall, this has given Sterling an edge as this time frame is much more promising when compared to other countries.
The Euro remains volatile for the time being. Italian PM Conte has won a confidence vote in Parliament but will face a similar test in the Senate today. Eurozone and German ZEW economic sentiment figures are due to be released this morning which may cause some short-term volatility.
US Treasury Secretary Nominee Yellen will today explain to the Senate Finance Committee why they should approve President-elect Biden’s $1.9tn fiscal stimulus package. It is rumoured that she will say that now is the time to ‘act big’ as borrowing costs are low. As a result, the Dollar has weakened across the board.