The pound hit a 10-month high against the euro yesterday and is still trading around those levels this morning, as the UK’s vaccination programme is still providing hope about the speed of the UK’s economic recovery. Despite this, sterling weakened slightly against the dollar after reaching its highest level since April 2018 on Tuesday.
After higher-than-expected inflation rate data yesterday, today is a light day for economic data. However, consumer confidence, retail sales and PMI data will be released tomorrow.
Ahead of announcing a ‘road map’ for the easing of lockdown restrictions on Monday, Prime Minister Boris Johnson has said that he will focus on “data, not dates”. He also said that the hospitality sector would be one of the last areas to reopen.
