The pound is still weaker against the dollar and trading around the same levels against the euro this morning ahead of a speech from Bank of England Governor Andrew Bailey today.
The markets are looking out for any comments from Bailey surrounding inflation and tapering monetary support. His speech follows warnings from outgoing Chief Economist, Andy Haldane, who said yesterday that the economy is at risk of ‘overheating’.
Yesterday, the European Union agreed to impose a 3-month delay on a ban to sell some British meat products in Northern Ireland. The proposed ban was originally introduced as a result of the Northern Ireland Protocol, but the EU have now given the UK a ‘grace period’ before this takes effect.
The dollar continues to strengthen against most major currencies ahead of the all-important Non-Farm Payrolls report tomorrow.
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