Good morning,
Boris Johnson spoke last night to confirm that 1.5 million British people had already received their vaccines against Covid in the UK. Comparing the Prime Minister’s data to that of government health minister, Helen Whately, who told Parliament on Wednesday that 1.3 million had already received their jabs, it shows the vaccination rate is around 200,000 people per day.
The government has made a goal to have a vaccination centre 10 miles away from each person and has even drafted in the army to help. With a lofty target of vaccinations running into the “hundreds of thousands” by mid-January, the plan is for the UK economy to be one of the first to fully reopen following the initial pandemic. The Prime Minister will be holding regular new conferences to deliver the stats behind the vaccinations and markets could use this a guide as to when the UK will be brought out of the third lockdown. With any date of ending the lockdown being brought forward, the pound could gain momentum. The UK is also in a unique situation compared to many other countries, whereby 2 approved vaccines are being administrated. This gives the UK the head start in the race to reopen.
As with the first Friday of every month, today sees the release of the US non-farm payrolls. One of the highlights of economic data releases, markets will focus on the figure to gauge the health of the US economy.
Have a great weekend.
Jack Nicholls, Relationship Manager.
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