Pound Edges Higher On Hopes Of Easing Covid-19 Restrictions

Pound Edges Higher On Hopes Of Easing Covid-19 Restrictions

22 Feb 2021 03:13 PM
 

Pound edges higher, cheering hopes of early easing of lockdown in UK, overlooking Brexit woes.

Although, chatters that UK PM Johnson is pressured to reopen the schools from March 08, are keeping GBP gains in check. Fears that Britain will strike back to the European Union’s ban on British shellfish also capped gains.

China’s push for removing the US sanctions and a fresh start to the trade-political ties also weighed on the sentiment. Irish border is going to get tough for the UK’s meat exporters from today until June weighing further on the pair. On the other hand, comments from Israel regarding Pfizer vaccine’s ability to handle the coronavirus variants favoured market sentiment.

Going forward, UK PM Boris Johnson’s comment will be the key drivers. Comments from the UK’s Raab will also be eyed as retaliation from China may weigh on the risk.