The pound strengthened briefly against the dollar and euro yesterday due to technical factors, however, this strength was short-lived due to ongoing pressures from Brexit and the coronavirus crisis. Boris Johnson released his new plans for the UK’s economic recovery from the coronavirus crisis yesterday, which failed to provide a boost for the pound.
The US recorded more than 40,000 COVID-19 cases for the fourth time in five days yesterday. Health officials have expressed worries that the US’ attitude to containing the virus is different to other countries, which is subsequently allowing it to spread rapidly.
A series of data has been released for the Eurozone this morning, with German retail sales showing a record growth due to the easing of lockdown restrictions.
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