With interest rate decisions from the UK, US and Japan this week, as well as action from the European Central Bank (ECB), there could be significant movements in currencies over the next 48 hours.
Sterling has already weakened by nearly 1% in the past 24 hours against both EUR and USD.
In the meantime Covid vaccines and their effects on the global economy continue to dominate the news, with more UK businesses announcing they will remain closed even when shops are allowed to reopen in four weeks’ time.
Much of Europe has suspended use of the Oxford-AstraZeneca vaccine over side-effect fears and despite a third Covid wave growing in pace. Despite this it is sterling currently weakening. The pound has continued a disappointing week, losing another 0.5% against EUR this morning and slightly less against USD.
In the US, $1,400 cheques will start arriving at people’s homes tomorrow, as the $1.9trillion economic stimulus begins.
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