The pound is strong against the euro this morning and slightly weaker against the dollar, as global market sentiment has slipped at the start of a new week. Despite this, the UK’s successful vaccine programme continues to support sterling.
Outdoor meeting and sports will resume in England today as the next step in the government’s ‘roadmap’ to recovery kicks in. The Prime Minister has urged the public to be cautious, however, especially as cases increase in Europe.
The euro is still suffering as the third wave of COVID-19 infections has sparked lockdown measures across the continent. In addition to this, concerns about the slow vaccine rollout are impacting the single currency.
Both a successful vaccine programme and strong economy are supporting the dollar ahead of a busy week of data, which will conclude with Non-Farm Payrolls on Friday.
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