The pound has hit fresh highs against the euro and the dollar this morning due to continuing success with the UK’s vaccine rollout and a drop in infections. As of yesterday, the UK recorded its lowest daily infections of the year and one in three adults have now been vaccinated.
Due to the quick vaccine rollout and fall in infections, there is hope for a swift economic recovery in the UK. Bank of England governor, Andrew Bailey, is expected to comment on this further in a testimony before parliament’s Treasury Committee later today.
The CBI distributive trades survey, which measures the health of the retail sector, revealed yesterday that only grocers saw any growth in volumes in the year to February, with non-store sales flat and other retail sectors reporting sharp declines. Meanwhile, internet sales growth hit a new record.
