The pound is trading around the same levels against the euro and the dollar this morning. Sterling recovered some lost ground yesterday against both the dollar and the euro but is still lower than it was this time last week against the euro.
This morning, CBI Distributive Trades data will be released for the UK, which measures the health of the retail sector. The last reading in March came in below expectations at -45, but there is expected to be a substantial lift in April due to the easing of restrictions and the opening of non-essential shops.
Hopes are building that the UK will experience a sharp economic recovery this year. Several banks and financial institutions have revised their growth forecasts to predict a swifter recovery due to the easing of restrictions.
