The pound is still at strong levels against the euro and the dollar this morning. Sterling weakened against the dollar last week after a ‘dovish’ speech from Federal Reserve Chair, Jerome Powell. However, it is still stronger than it was this time last month.
This morning, Governor of the Bank of England, Andrew Bailey, will speak about the improving economic outlook. Sterling could be impacted by this, especially if there are any surprises or a particularly positive tone.
On Thursday, industrial production, balance of trade and GDP figures will be released for the UK. Britain’s GDP is expected to have shrunk by 2.4% in the three months to January, due to the ongoing lockdown.
