Once again, sterling clocked up another impressive days trading against both the euro and the US dollar, pushing briefly past 1.17 and 1.42 respectively. The song remains very much the same on the reasoning why, with the consistent overperforming of the UK’s vaccine programme as well as the near term ending of lockdown restrictions giving investors reason to be bullish about the UK’s 2021 economic prospects. In addition, the UK has continually managed to avoid the dreaded threat of negative interest rates at much lower ebbs than currently, giving market analysts hope that the fear may be behind Britain for now. Whilst unemployment has risen throughout the pandemic, the news that the Government’s furlough programme is likely to be extended until May means hopefully the UK can weather the worst of the losses on the way to recovery.
Have a great day.
Joshua Haden-Jones, Senior Relationship Manager.
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