Sterling picked-up a bid after this morning’s Bank of England policy announcement but has faded lower into the US open. Support levels may be soon tested as the UK readies itself for a long weekend.
The long-term outlook for the Euro has been boosted significantly by a Franco-German proposal for a €500 billion coronavirus Recovery Fund, even though an agreement is not yet close.
The key release in Europe later will be the Eurozone inflation data, where we should see a slight easing in the year-on-year figures. The December release featured a +5.0% y/y reading but is estimated
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