The pound is still trading around strong levels against the euro this morning. Some of its strength could be attributed to the coronavirus situation in Europe compared to the UK.
Reports reveal that hospitalisations, deaths and ICU admissions are falling in the UK, which contrasts to the situation in Europe. This means that the pound has found support against the single currency.
In a speech yesterday, Bank of England official Silvana Tenreyro said that interest rates were likely to be hiked in the medium term, however, declined to comment on whether they would be raised at the end of this year or early next year. There will be more BoE speeches later today, including from Governor Andrew Bailey.
