The pound is climbing against the euro and is strong against the dollar this morning after the Chancellor’s Spring Budget yesterday. Rishi Sunak vowed to “protect the jobs and livelihoods of the British people” as the UK emerges from the pandemic. Tax hikes were also announced but were perhaps less severe than expected.
The global markets and the UK’s vaccine effort also continue to support sterling.
In Europe, all eyes are on Eurozone retail sales figures after disappointing data from Germany earlier in the week.
Federal Reserve Chair, Jerome Powell, will speak later today and the markets will be looking out for any changes to his economic outlook.
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