The pound is still trading around strong levels against the euro and the dollar this morning but is slightly weaker against the euro compared to the start of this week.
Sterling is still sensitive to vaccine progress and the success of the UK’s economic reopening, so the markets continue to keep a close eye on the Indian variant of the virus, which is dominant in some parts of the country.
In a press conference yesterday, Health Secretary Matt Hancock said that hospitalisations and deaths remain very low. He also confirmed that the final decision about further unlocking of restrictions will be taken on 14 June.
In the US, minutes from the FOMC’s latest meeting reveal a cautiously optimistic tone, which gave the dollar a brief boost yesterday.
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