The pound is strong against the US dollar this morning, benefiting from the greenback’s weakness. However, it is weaker against the euro as Brexit continues to weigh.
Sterling strengthened towards the end of last week following a series of positive data releases, which show that the UK economy is starting to recover from the coronavirus crisis. This has been met with some caution, however, as the economy still has some way to go before recovering after the sharp declines seen in March and April.
It’s a busy week of data for the Eurozone and the US this week. After lengthy discussions, the US’s latest stimulus bill is expected to be announced soon, which will help small businesses and the unemployed.
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