The pound is still weaker this morning against the euro and the dollar after slipping last week. Its fall was due to the prevalence of the new Omicron coronavirus variant, which has worried markets. Despite this, uncertainty remains over how severe and transmissible this variant is.
This morning, an infectious disease expert has warned that the variant could begin to overtake Delta as the prominent UK variant within weeks. Meanwhile, South Africa’s President has warned the country is now heading “into a fourth wave of Covid-19 infections”.
There will be a series of economic data releases for the UK this week, including GDP figures on Friday. This afternoon, Bank of England official, Ben Broadbent, will speak and the markets will be listening closely to any comments surrounding interest rates.
