The pound is strong against the euro and the dollar this morning, ahead of another speech by Bank of England governor, Andrew Bailey later today. His speech last week, which dismissed negative interest rates, boosted the pound. Any further information regarding interest rates today has the potential impact sterling again.
The dollar is weaker this morning ahead of Joe Biden’s inauguration day. Biden’s nominee for Treasury Secretary, Janet Yellen, said yesterday that she wants Congress to “act big” on Covid-19 relief. In Europe, figures released yesterday indicate that economic sentiment has improved.
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