As the week ends, the pound has continued its downwards trajectory against most key currencies and could see its sharpest weekly decline against the euro since September 2020.
Vaccine concerns and disruption to supply have weighed heavily on sterling this week.
Minutes from the European Central Bank’s latest monetary meeting stated that the eurozone economy is recovering “faster than expected” and that President Biden’s stimulus could be beneficial to eurozone growth.
Federal Reserve Chair, Jerome Powell, has reiterated that the bank will only act when the economy has fully recovered. These comments have weighed on the dollar.
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