Sterling remained steady in early trading as the UK announced that it had become the first country in the world to approve a coronavirus vaccine developed by Oxford University and AstraZeneca. Britain has ordered 100 million doses of the vaccine which is given in 2 parts.
Parliament will today vote on the Brexit deal recently agreed with the European Union. It is expected to pass with no problems as the governments opposition in the commons have already spoken of their support for the deal. House prices in the UK rose faster than expected in December to record their biggest annual increase in 6 years. Decembers figure rose by 0.8%, barely slowing from the 0.9% recorded in November and were 7.3% higher than a year ago.
The dollar fell to multi-year lows against many countries overnight. The greenback traded at its lowest level in more than 2 years against the Euro, the Australian dollar, the New Zealand dollar and 5 year low against the Swiss franc. The dollar has fallen and riskier assets have risen since President Donald Trump signed a coronavirus and spending bill on Sunday, because more stimulus for the world’s largest economy reduces demand for the perceived safe haven dollar.