Despite weakening from highs seen at the beginning of this week, the pound is trading around strong levels against the euro this morning. However, it’s still lingering near 2021 lows against the dollar.
Later today, two Bank of England officials will speak, including Governor Andrew Bailey. This follows commentary from official Silvana Tenreyro yesterday, who said that an interest rate hike is expected in the ‘medium-term’ but declined to confirm when this would take place.
The euro is suffering due to a mixture of rising COVID-19 cases, the reintroduction of restrictions in countries like the Netherlands and Austria, as well as low business and consumer confidence in Germany.
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