The pound is still strong against the euro and the dollar this morning, benefitting from signs that COVID-19 cases are falling in the UK. Despite this, the Prime Minister has warned against making any premature conclusions about the data and that the impact of so called ‘Freedom Day’ is yet to be seen.
It was announced yesterday that fully vaccinated people from the EU and US will not have to isolate when they arrive in England, Scotland and Wales from 2 August. Foreign Secretary Dominic Raab has also confirmed that the traffic light system will be reviewed next week.
The dollar is weaker this morning following the Federal Reserve’s two-day monetary policy meeting. In a press conference yesterday, Fed Chair Jerome Powell said that the job market needs to show improvement before tightening policy.
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