Today is the day in which the UK Government will announced whether England will be freed of Covid restrictions, over 15 months since the pandemic started on British shores. At the moment, various news outlets are trying to predict as to the announcement the Government plans on making later today, with many calling for them to follow the original roadmap which was set out months ago. Doubts have been cast due to the Delta variant, which is reported to have spread drastically in parts of England with hospital admissions rising. If the decision is data driven, as Downing Street has spoken about time and time again, it will be hard to see next week being the glittering ‘Freedom Day’ as many have titled it.
The BBC is reporting that there is an expected delay to the easing of restrictions by four weeks. The aim is to enable more people to get their vaccine and also for those who have had their first jab, to get a second to reduce the severity of the infection, were they to catch the virus. What that means for the pound however is unknown.
Away from headline Covid news, this week is a heavy one on the economic calendar with multiple releases due. Today is due to start quieter, with data releases picking up from tomorrow onwards. The highlight of the week will be from the States, where the Federal Reserve announce its interest rate decision on Wednesday evening UK time. Over the past year the Fed has reiterated its position for rates to remain low for years to support the economy, with inflation targets looked at over a longer period of time. But, any shift from the stance could see dollar bulls take the driving seat.
Have a great day
Jack Nicholls, relationship manager
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