The pound is slightly weaker this morning but is still trading around the same levels against the euro and the dollar. However, the possibility that the June 21 reopening could be delayed, and rising COVID-19 cases could have an impact on sterling in the coming days and weeks.
Tensions between the UK and the EU over the Northern Ireland protocol could also have an impact on sterling in the near future. UK and EU officials met yesterday to discuss matters; however, talks broke up without an agreement. US President Biden is said to have “deep” concerns that tensions could threaten peace in Northern Ireland.
President Biden will engage in talks with the Prime Minister later ahead of the G7 summit, which is being held in Cornwall.
It’s a light day for economic data today, but there will be a series of releases tomorrow morning, including balance of trade and GDP figures.
