The pound is still at strong levels against the euro this morning following the Bank of England’s monetary policy meeting last week, in which all members voted unanimously to keep interest rates unchanged. This, coupled with the UK’s efficient vaccine rollout continues to fuel hopes of a swift economic recovery.
The dollar is also being supported by promise of economic recovery, due to expectations that the $1.9 trillion package will be approved by Congress in the coming weeks.
The slower pace of the vaccine rollout in Europe is weighing on the single currency. At the end of last week, President of the European Commission, Ursula von der Leyen, admitted that mistakes had been made.
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