Market Comment - 28th March 2022

March 28, 2022
Market Comment - 28th March 2022

Good morning,

Coronavirus has made it's way onto the front page again for the first time in a long time. This is in reaction to the two year anniversary of lockdown but also a surge in positive tests. However the number of positive tests and the hospitalisation rate has firmly decoupled indicating the Omicron strain is highly transmissible but less severe. At this stage the UK is continuing to come out of all lockdown measures and the markets aren't being affected.

The other main story of the Ukraine conflict is also taking a different line today as the Ukraine President, Volodymyr Zelensky, considers moving away from joining NATO and moves to a stance of neutrality in order to satisfy Russia. The outcome of this could be the game changer.

Market news is thin on the ground following the weekend. However the Bank of England Governor, Andrew Bailey, is giving a speech later that could affect GBP rates.

GBP/EUR continues to remain towards the top of the mid term range and GBP/USD continues to track sideways.

As ever we look forward to keeping you in the loop and look out for our next update.

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UK: 12:00 Bank of England Governor Speech

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