The GBP/EUR rate remains in a tight range it's been in since the middle of the month with very little to move it out of the status quo. Scheduled news is relatively thin this week, and besides speeches by ECB President, Christine Lagarde and the BoE's Andrew Bailey there's nothing much diarised to come out that should affect this. All eyes remain on the Covid situation to potentially provide the next indicator of movement.
The same can be said of the Pound versus the Japanese Yen and the Australian Dollar. Against the Dollar and the Canadian Dollar the Pound looks less strong but this could be an effect of the risk off approach being taken by traders as we move into the next phase of the Coronavirus pandemic.
Interesting is the Swedish Krona. This has been showing short term weakness against both the Pound and the Euro.
Yesterdays raft of US data came in broadly in line with expectations although the FED appears to be relatively bullish on the Dollar which is underpinning the Greenbacks strength.
As mentioned, today is about the two bank chiefs speeches and the US is closed for Thanksgiving Day.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
US: Thanksgiving Day
EUR: 13:30 ECB Lagarde speech
UK: 17:00 BoE Bailey speech