Good morning,
The Pound had marginal gains against both the euro and dollar yesterday where it tested the key 1.16 level against the single currency. Sterling started the session strong as analysts speculated ahead of todays Bank of England meeting if there will be a reduction in stimulus.
The US released its non farm payroll estimate figure ahead of Fridays official release. The numbers showed job growth accelerated in April but fell a bit short of Wall Street expectations. Private firms added 742,000 workers for the month, a jump from March’s upwardly revised 565,000, but a bit shy of the 800,000 forecast from economists surveyed by Dow Jones. In a particularly positive note the worst hit sectors by the Covid-19 pandemic such as leisure and hospitality showed the most growth.
Today the Polls open in elections across England Scotland and Wales. All eyes will be on the votes in Scotland and the potential impact this could have on independence. At midday today the Bank of England will update us on plans for stimulus package, monetary policy, member votes and the headline interest rate.
Have a great day. 
William Jones, Senior Relationship Manager.
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