It’s another down day for the Dollar but the S&P 500 has opened flat.
Sterling continues to push higher, with the GBP/USD cross trading above 1.37 to its highest level in nearly three years and GBP/EUR back above 1.13. While there have been recent reports about a dip in the pace of vaccination in the U.K. and record numbers of daily COVID-19 cases and deaths, the narrative remains more positive than other European economies.
The ECB left its policy rates unchanged at its lunchtime meeting, as expected. President Lagarde said that Eurozone growth had likely contracted in Q4 2019 – no big surprises there. The question is whether growth can rebound in coming months….
