As we reach the end of July, the pound has recovered against most major currencies.
Sterling has seen a bout of strength over the last few days thanks to falling Covid-19 cases but has weakened a little this morning.
The euro has benefitted from positive German employment data suggesting that Europe’s biggest economy is recovering. The single currency has particularly strengthened against the dollar after dovish comments from Federal Reserve Chair Jerome Powell. The Fed Chair told investors that he was reluctant to raise interest rates or tighten monetary policy any time soon.
Disappointing data was weighing on the greenback yesterday, with both GDP and initial jobless claims missing market predictions, however, markets appear to be seeking the ‘save haven’ currency this morning, giving the greenback a small boost.
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