Sterling is still at strong levels against the euro and the dollar this morning after benefitting from news last week that COVID-19 cases are falling in the UK.
This week, the markets are looking ahead to the Bank of England’s monetary policy meeting on Thursday. Any comments that take a cautious or ‘dovish’ tone could weaken the pound, whilst any suggestion that monetary policy could be tightened ahead of schedule may give sterling a boost.
The euro is stronger against the dollar this morning due to positive data releases at the end of last week and this morning. PMI figures and retail sales will be released today and Wednesday.
At the end of the week, all eyes will be on US Non-Farm Payrolls, a key employment report that could influence the actions of the Federal Reserve and impact the dollar.
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