The pound strengthened against the euro throughout the course of yesterday due to new signals that the June 21 reopening could go ahead.
Yesterday, Boris Johnson reiterated that the government need to wait a bit longer before analysing the data to make a decision on whether to reopen everything and ease restrictions on June 21. He also said, “I can see nothing in the data at the moment that means we can’t go ahead with step four” but acknowledged that cases are rising.
Later today, PMI figures for the services and manufacturing sectors will be released. Both are expected to show a slight increase in May from the previous reading, mostly due to the easing of lockdown restrictions.
