The pound has hit fresh highs against both the euro and the dollar this morning, as the UK’s speedy vaccine rollout and a fall in daily infections has boosted hopes of economic recovery. Sterling is trading near 2018 highs against the dollar and at 11-month highs against the euro.
Bank of England governor, Andrew Bailey, will testify before parliament’s Treasury Committee today and it will be interesting to hear any comments on the outlook for the UK economy.
In the US, Federal Reserve Chair Jerome Powell will continue his testimony before Congress today after a ‘dovish’ speech yesterday.
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