The pound is still in a weaker position this morning after losing ground against both the euro and the dollar last week. Despite this, sterling has made some small gains this morning and is stronger than its average for the past year.
As lockdown measures are eased further today, many analysts wonder if this could support sterling going forward. The Prime Minister has urged the public to “behave responsibly” as many shops, hairdressers, gyms and pub gardens reopened this morning. Long queues for non-essential shops have already been forming in many town centres.
After a strong week for the euro last week, President of the European Central Bank, Christine Lagarde, is due to speak on Wednesday.
Federal Reserve Chair, Jerome Powell, reiterated the Fed’s cautious stance yesterday, saying the US economy is at an “inflection point”.
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