The pound is up against the euro after yesterday’s Eurogroup meeting, which saw continued debate between the so-called ‘frugal four’, especially Austria, and the southern European countries hardest hit by the coronavirus pandemic. The group has agreed to a longer-term funding plan of as much as a trillion euros, but differences remain over what it will comprise.
Sterling did, however, see a brief drop yesterday as CBI figures showed business confidence to have hit a record low.
In the US, unemployment has continued to grow, reaching approximately 26 million in a month, while the Kansas manufacturing index hit a record low.
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