The pound is still at strong levels against the euro and the dollar this morning, remaining near an 8 month high against the euro and its highest against the dollar since April 2018.
This is due to the ongoing speed of the UK’s vaccination programme, which is set to hit its target of vaccinating the over 70s, healthcare workers and vulnerable by next week. This has increased hopes of a strong economic recovery in the UK and the avoidance of negative interest rates.
In Brexit news, the UK’s Chief Negotiator, David Frost, has criticised the EU for its actions since the trade deal was enforced at the beginning of this year. He has called for “a different spirit” from Brussels going forward.
The governor of the Bank of England, Andrew Bailey, will have his latest speech released this evening. It’s unlikely to deviate from the message put forward by the Bank of England last week, which suggest that negative rates will not feature anytime soon.
