The pound is weakening against the euro but is strengthening against the dollar. This comes as UK markets reopen after Christmas and begin to trade for the first time since the Brexit deal has been reached. Parliament will debate and vote on the £668bn deal today, which if agreed, will be put into UK law. Government minister Michael Gove said that there will be “bumpy moments” for businesses as the UK adjusts to the new EU rules. It is expected that the pound will remain under pressure in the coming days.
Sterling is currently trading around this year’s high against the dollar, but there was no sharp rise as was rumoured. This is thought to be due to markets anticipating that an agreement would be reached.
News broke this morning that the Oxford-AstraZenca vaccine has been approved for use in the UK. Prime Minister Boris Johnson called it a “triumph” with the focus on vaccinating “as many people as quickly as possible”. It is expected that the rollout of this vaccine will start as soon as 4 January.
