The Federal Reserve will begin its two-day monetary policy meeting later today. Whilst policy is expected to remain unchanged, the markets will be looking out for comments from Federal Reserve Chair, Jerome Powell. The meeting will conclude with a press conference tomorrow.
The pound has managed to hold on to gains made against the euro yesterday and is around the same levels against the dollar. Data which measures the health of the UK retail sector will be released this morning, expected to show an improvement due to the reopening of non-essential shops.
Disappointing business climate figures for Germany put pressure on the euro yesterday. The data revealed that companies are not very optimistic about the next six months, possibly due to the third wave of infections in Europe.
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