The Pound has recovered most of the losses it experienced after the disappointing retail sales data released on Friday morning, with the focus shifting back to the UK’s vaccination rollout. Scotland’s First Minister Sturgeon has said that she hopes another Scottish independence referendum will take place if the SNP wins a majority in the Holyrood elections in May.

The Euro remains weak against a stronger Pound but is performing well against an even weaker Dollar. On Friday, Eurozone flash manufacturing and services PMI data came out better than expected which gave the common currency a boost. France is likely to announce another national lockdown after a surge in coronavirus cases.

The Dollar remains weak across the board with the market still focusing on the $1.9tn fiscal package that Biden announced recently. The Federal Reserve interest rate decision and FOMC press conference on Wednesday evening as well as advance US GDP data released on Thursday are the main focal points for the Dollar this week and are likely to create a volatile Dollar.