The pound is slightly weaker this morning due to a fall in the stock markets, which sterling has been moving in tandem with recently. However, it is hoped that the UK’s vaccine rollout will still provide support for the pound and keep it above key levels.
Economic data leading up to the Bank of England’s interest rate decision next week could have an impact on the pound over the coming days, especially if the data points towards the possibility of negative rates.
Car production figures for December were released for the UK this morning, showing a 2.3% decline year-on-year. This was the lowest level in four months, with some firms affected by border closures and thus supply issues due to the lockdown.
