The pound recovered throughout the course of yesterday against the euro and the dollar, due to an improvement in the global markets.
This has occurred due to small signs that the UK’s third wave of COVID-19 infections has started to peak. A slight reduction in week-on-week cases has been reported over the last couple of days, fuelling hopes that this will form a pattern. There are also suggestions that the hotter weather and the school holidays will contribute to a decrease in cases.
In Parliament yesterday, the UK’s chief Brexit negotiator, Lord Frost, announced that the UK is seeking a renegotiation of some parts of the Northern Ireland Protocol. However, the EU has rejected this, saying that it would never be up for negotiation.
Later this morning, the CBI industrial trends and business optimism index will be released, which measure manufacturing output and optimism.
