The pound has weakened slightly, but still remains strong against both the euro and the dollar and could have the potential to climb higher. Sterling tends to move with the stock markets, which have dipped slightly, but a positive economic outlook due to the UK’s speedy vaccine programme and the Bank of England’s stance towards negative interest rate keeps it buoyant.
In a speech released yesterday, Governor of the Bank of England, Andrew Bailey, called EU demands for City banks to comply with Brussels regulations unacceptable. This comes ahead of another round of negotiations with the EU about the future of the UK’s financial sector.
Today is light on economic data for the UK but tomorrow, a series of data will be released at 7am, including GDP and industrial production figures.
