The pound is edging higher against both the euro and the dollar this morning, possibly due to a robust outlook for the UK economy. A series of positive data releases at the end of last week and comments from the Bank of England’s Deputy Governor over the weekend have raised hopes for a strong economic recovery.
After months of lockdown, both Italy and France have announced that restrictions will be eased. Italy will partially reopen bars, restaurants and other institutions from today, whilst France will ease domestic travel restrictions in May.
The dollar is still weak this morning ahead if the Federal Reserve’s monetary policy meeting this week. Markets will be looking out for any comments from Chairman Jerome Powell and other officials.
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