The pound has been strengthening over the past week and that has continued this morning against the euro.
Against the US dollar the pound remains stronger than this time last week despite a gentle decline since Monday.
So far this morning we have heard that the German balance of trade has recovered to €7.7bn from last month’s huge loss, and there is a mass of data coming down the wires this morning including eurozone services PMI and retail sales.
In business news 16,000 small firms are reported to have gone bust after receiving covid loans from the government.
Tomorrow the Bank of England will be setting a new interest rate, so we can expect to see more volatility in the market over the next 48 hours.
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