The pound has strengthened against both the euro and the dollar this morning, as political risks have decreased following the results of the local elections.
The focus of the weekend was the Scottish elections, in which the SNP won but failed to achieve an outright majority. Nicola Sturgeon said that she will campaign for another independence referendum, but it is thought that due to COVID-19, this is unlikely to happen anytime soon.
After the Bank of England’s monetary policy meeting last week, Governor Andrew Bailey will make a speech tomorrow. The Bank announced the decision to stretch out its £150bn purchase programme until the end of the year. He will also make another speech on Thursday.
GDP figures will be released for the UK for the first quarter of this year, as well as industrial and manufacturing production figures.
