The UK government has signed a deal which will secure 60 million coronavirus vaccine doses of a drug being developed by GlaxoSmithKline and Sanofi. Prime Minister Johnson has suggested that there are signs of a second virus wave in mainland Europe which is why any arrivals from Spain will have to quarantine themselves. Conservative MPs are said to be encouraging businesses to return to their offices amid concerns that city centres are turning into ‘ghost towns’. The Pound has continued to make gains against a weaker Dollar and has also strengthened slightly against the Euro.

ECB member Stournaras has reinterested that the central bank will be looking to use up their full PEPP facility to stimulate economic growth in the Eurozone with downside risk still a concern. German officials have said that they are ‘very concerned’ by the number of new infections in the country with 3,611 new cases in Germany being recorded in the past week. Nonetheless, the Euro remains strong although it has struggled to make further advances against the Dollar yesterday.

US consumer confidence data was released worse than expected at 92.6 which contributed to the Dollar weakening further against the Pound. 1,600 new coronavirus related deaths were registered on Tuesday in the US which is the biggest daily increase since May. The market is waiting in anticipation for the FOMC announcement and press conference this evening with any comments from members likely to be scrutinized as they are likely to strike a dovish tone. The Dollar remains weak against both the Euro and the Pound.