The pound has strengthened slightly this morning but is still struggling to gain substantial ground against both the euro and the dollar. A lack of UK data releases continues to weigh on sterling and has instead shifted focus to the euro.
Comments made by the Prime Minister’s former adviser Dominic Cummings are also weighing on sterling. Cummings said that Boris Johnson was “unfit” for the role of PM and criticised the government’s response to the pandemic.
If this weakness continues, sterling risks losing the gains it made in May against the major currencies.
In other news, Northern Ireland has become the first part of the UK to offer vaccines to all over-18s.
