The pound is still trading around the same levels against the euro and the dollar to start the week. Although it has weakened slightly this morning ahead of the government’s official announcement about COVID-19 restrictions, it’s thought that this is largely priced into the market.
Government sources have said that the June 21 ‘reopening’ could be delayed by up to four weeks, which the Prime Minister is expected to confirm later in a press conference. The decision will then be put to a vote in the House of Commons this month.
It’s a busy week for economic data releases in the UK, with employment data tomorrow, inflation rate figures on Wednesday and retail sales on Friday. This data could reveal more about the Bank of England’s stance towards monetary policy. The Bank will release the minutes of their latest meeting next Thursday 24th.
