The pound lost some ground over the course of yesterday against both the euro and the dollar. This could have been due to concerns over the Indian (or Delta) variant of the virus, which has caused some scientists and health experts to call for the June 21 reopening to be delayed.
The final decision on whether the planned reopening can go ahead will be made on June 14. However, a Downing Street source said yesterday that, “At the moment we do not have evidence that definitively suggests we should delay.” However, data that comes out over the next week will be crucial.
The manufacturing PMI figure released yesterday came in slightly lower than predicted at 65.6, however showed a record growth in factory activity as output growth strengthened and new orders rose at the quickest pace in the near three-decade survey history.
Later today, mortgage and consumer credit data will be released.
