The pound is still at strong levels against the euro and the dollar this morning, as the UK’s efficient vaccine rollout and hopes for economic recovery underpin sterling. The Bank of England’s monetary policy meeting, which was held last week, also gave the pound a boost as negative interest rates were ruled out for the time being.
Over 10 million people have now been given their first dose of the vaccine in the UK. The government aims to offer vaccines to 15 million people by mid-February. This includes those aged 70 and over, healthcare workers and people required to shield.
Governor of the Bank of England, Andrew Bailey, is due to make another speech on Wednesday and will possibly build on comments made at the monetary policy meeting last week. It’s a quiet week of economic data for the UK until we get to Friday, when GDP and industrial production figures will be released.
