After a positive day on Tuesday, the pound weakened against the dollar throughout the course of yesterday as the greenback gained strength ahead of the Federal Reserve’s meeting minutes. However, sterling is still around the same levels against the euro.
It’s a light day for economic data releases in the UK today, so all eyes will be on tomorrow’s GDP figures. They are expected to show that the UK economy grew by 3.9% in the three months to May, however, if the reading comes in higher or lower than expected, this could impact the pound.
In the House of Commons yesterday, Labour leader Kier Starmer criticised the government’s plans to reopen on July 19, saying “It won’t feel like freedom day to those who have to isolate… it won’t feel like freedom day to the businesses who are already warning of carnage because of the loss of staff and customers.” However, the Prime Minister said his plan is “balanced and reasonable”.
