The markets will focus on a key speech from Federal Reserve Chairman, Jerome Powell, which is due to be made later today at the Jackson Hole Symposium. The annual event is used by central bankers to voice major new policy ideas and this year, it’s being held virtually.
News of how the world’s biggest economy is coping with the coronavirus crisis could impact a variety of currencies, including the dollar, pound and euro. Governor of the Bank of England, Andrew Bailey, is due to speak at the event tomorrow.
The German government announced yesterday that it would extend its furlough scheme until the end of 2021 in order to support the economy, taking a different approach to the UK. Any more news of how Brexit negotiations have played out could impact sterling.
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