Concerns over global economic recovery have sent the markets lower this morning, causing sterling to weaken against the euro and the dollar. A possible vaccine export ban from the EU could also be putting pressure on the pound.
As a third wave of COVID-19 begins to take hold of the continent, the euro has weakened against the dollar. Following France and Germany, the Netherlands has now extended its lockdown due to rising cases.
The dollar, however, is benefitting from its status as a safe-haven currency and is stronger against both the pound and the euro this morning. Later today, Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen will testify before Congress for the third time this week.
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