The pound is still strong against both the euro and the dollar this morning, staying around the same levels as the markets look to the Bank of England’s monetary policy meeting tomorrow.
BoE officials are expected to adopt a cautious tone at the meeting, but any positive comments about the economy could be beneficial to the pound.
COVID-19 cases continue to fall in the UK, with a surge following the July 19 reopening now ‘unlikely’. The Joint Committee on Vaccination and Immunisation is set to recommend this week that the vaccine should now be rolled out to 16- and 17-year olds.
It’s a busy day for economic data today, with PMI figures expected for the UK, Europe and US, which should give an indication of how each economy performed in July.
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