The pound is stronger against the dollar and euro today despite data released yesterday, which showed that the health of the retail sector is worse than was expected. Focus today turns to Bank of England official, Andy Haldane, who will speak this evening.
It’s a different story for the euro, which rose against the dollar due to a more positive outlook for German businesses, fuelling hopes that Europe can make a strong economic recovery in the wake of the coronavirus crisis.
For the dollar, all eyes are on the speech tomorrow from Chairman of the Federal Reserve, Jerome Powell. Any comments on adjusting the inflation target or economic prospects for the US could impact the greenback.
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