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Covid-19 vaccination numbers continue to climb in UK
By Steve Eakins
Will there be a delay to 'Freedom Day' and what could the GBP impact be?
The GBPEUR exchange rate closed back above the 1.16 level after a strong Monday and the move gives hope that the recent sell-off of sterling was temporary.
Yesterday Matt Hancock confirmed 23 million people have been vaccinated in the UK, which continues to support sterling’s value.
Sterling has been widely supported by the UK vaccination programme with GBPEUR reaching a fresh 9-month high and GBPUSD has hit its highest level against the US dollar since May 2018.
GBP has enjoyed a steady surge in strength thanks to increased optimism regarding the UK’s covid vaccine rollout.
The pound to euro exchange rate was higher into Thursday after Boris Johnson’s Brexit deal passed Parliament with hours to spare.
As more information on vaccines and the deployment across the UK population is announced, could the pound see an improvement in value?
Pound sterling lost ground against the euro and US dollar yesterday as returning lockdowns and Brexit cast shadow over UK economic recovery.
Governments across Europe face a hard balance between public health and economic activity as they combat a resurgence in COVID-19 cases.
The end of last week saw sterling fall against the euro as UK and EU Brexit negotiators fail to make any headway to agreeing a trade agreement.
The pound has fallen in value against the euro as news broke earlier this week that the UK economy has fallen into a technical recession.
Sterling over the last 36 hours has seen an uptrend after falling to new lows against the euro and US dollar.
Sterling has remained in a tight trading range against the Euro, could this change with upcoming economic data and developments in Brexit?
The UK unemployment rate has continued to climb as other poor UK economic data has continues to hamper sterling's value.