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February 22, 2021

Ready Trader! Boris Johson's Speech Will Be The Focus

 UK Prime Minister Boris Johnson's speech today will be the main focus for pound investors who expect some measures of coronavirus restrictions to begin to be relaxed.


Having witnessed a steady decline in cases and deaths due to coronavirus following the widespread implementation of vaccination in Britain, the government will take the first step to exit Covid-19.


As of Friday, Britain had reportedly vaccinated a third of the adult population, the number of which was greater than that achieved in the United States and the European Zone.



The UK is expected to reopen the economy in stages every five weeks, through a cautious approach. Details on return to school, hospitality, and other economic activities are likely to be published today.


The pound remained strong around the three-year highs at the start of the European session, although it initially recorded a slight decline due to the resurgence of the US dollar.


The greenback dollar gained support at the start of the European session by recording gains against most major currencies, supported by high US treasury yields.