Prime Minister Johnson has announced a lockdown across England that will begin on Thursday until the 2nd December in order to reduce the number of new coronavirus cases. Minister Gove also commented that the lockdown could go beyond this date if cases are still not reduced to their target level. This has put the Pound under renewed pressure. Brexit talks continue this week, with the market staying cautiously optimistic.

The Euro remains weak after ECB President Lagarde signalled that additional monetary stimulus could be introduced in December whilst warning that Europe could face a ‘double-dip’ recession. Germany’s partial lockdown begins today just as they have reported 12,907 new virus cases.

The Dollar initially weakened on Friday as the market turned its attention to the presidential election polls which still show Democrat Biden in the lead. However, since the market has opened after the weekend the Dollar has strengthened due to its safe-haven status with the UK announcing a lockdown and the number of coronavirus cases increasing globally.