Sterling strengthened to a three-week high against the euro as fairly positive Brexit rhetoric, as well as news of the economy reopening, helped the pound. Yesterday, the government announced the reopening of the beauty industry, gyms, pools and outdoor entertainment. This followed the Chancellor’s ‘mini-budget’ earlier in the week, which also strengthened sterling.
Markets await news of the EU’s coronavirus rescue package. If member states can agree on the finer details, then the euro may benefit. Meanwhile, the dollar is stronger due to a record number of coronavirus cases in the US.
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