While testifying before the Treasury Select Committee on Monday, the Governor of the Bank of England (BoE), Andrew Bailey, said expect a rise for the British pound if the UK reaches a trade deal with the EU.
Featured statements:
“We have some evidence that vaccine news has boosted financial market confidence and business expectations. “
“The news on vaccines appears to be the first lights at the end of the tunnel in several months.”
“Vaccines give cause for optimism, we will follow this very carefully.”
“We hope that the vaccine will help counter excessive pessimism.”
“The Latest PMI data shows a positive picture that excess pessimism is wearing off“.
Market reaction
GBP / USD largely ignored these comments and continues to push lower. At time of writing, the pair is down 0.09% on the day at 1.3270.
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