After reaching a 13-month high yesterday morning, the pound has now weakened slightly against the euro and the dollar. This is thought to be down to traders returning to their desks after the Easter weekend and profit taking.
Despite this slip, it’s thought that sterling will continue to be underpinned by the UK’s successful vaccine rollout and the re-opening of the economy. The International Monetary Fund updated their forecasts yesterday to show that they expect the UK economy to grow faster than the US and the Eurozone in 2022.
Services and composite PMI figures will be released for the UK this morning, showing how both the services and manufacturing industries performed in March.
