After strengthening due to better-than-expected retail sales data at the end of last week, the pound is still at strong levels against the euro and the dollar this morning.
It continues to be supported by the success of the vaccine programme and the UK’s economic reopening. The markets, therefore, will be listening for any news on whether restrictions can be eased further on June 21st.
The euro is strong against the dollar due to an improving outlook for the Eurozone. The acceleration of the vaccine programme in Europe and positive economic data suggests that the economy is showing signs of recovery.
In the US, Federal Reserve Chair Jerome Powell’s reiterated message on monetary policy has weakened the dollar ahead of a busy week for data releases.
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