Uncertainty is weighing on the markets, as the US and China ramp up tensions over the origin of the coronavirus. America’s Mike Pompeo said on Sunday there is ‘enormous evidence’ that it came from a Wuhan laboratory, while the Chinese government continues to claim that it was discovered in China, but the origin could be elsewhere.
The pound weakened against the euro last week, but has regained some ground this morning after poor manufacturing data out of Europe. Tomorrow, we will see a number of key speeches from the ECB, and on Wednesday, further services, construction and retail data.
The dollar is currently up against the pound, although factory orders later today could put further pressure on it if they come in below expectations.
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