The pound has fallen for five days against the euro, mainly due to a drop in the markets, which has been sparked by concerns over the Delta variant. The pound tends to move in tandem with the markets in situations such as this and weakens against ‘safe-haven’ currencies.
There are worries that the Delta variant will hamper the UK’s economy recovery, despite ‘Freedom Day’ occurring at the beginning of this week.
As well as this, two Bank of England MPC members revealed on Monday that they are against tightening monetary policy too quickly. Ben Broadbent, another MPC official, will speak tomorrow.
