The Pound Euro (GBP/EUR) exchange rate is treading water on Friday after gains in the previous session.
The Pound received a boost from a cautiously optimistic Bank of England on Thursday. The central banks considers the UK economic outlook to be more favourable given the rapid vaccine rollout, the reopening of the UK economy and the Chancellor’s extension of covid support. The BoE is in no rush to tighten policy.
The Euro has been under pressure owing to the stronger US Dollar and the ongoing vaccine distribution issues in Europe. The European Medical Agency has deemed the AstraZeneca vaccine safe. France, Germany and Italy will resume Astra jabs today.