After a previously gloomy trading session, the pound once again showed an uptick at the beginning of the European session with price movements breaking the 1.39000 level against the US dollar.
Widespread vaccination campaigns in the UK have helped strengthen the pound currency and the growing number of daily infection cases shows pressure is starting to put pressure on Prime Minister Boris Johnson to loosen some restrictions.
Meanwhile, weak euro trading has allowed the pound sterling to soar since April 2020 as the market's main focus is on the publication of growth data and European and UK Zone services on Friday.
Growth in the European services sector is expected to continue to weaken in January, due to the closure of coronavirus which is still being implemented to curb the spread of coronavirus.
Meanwhile, greenback dollar trading seems to be resting for a while after soaring in response to the encouraging reading of US retail sales data in January.
However, the king continued to trade stronger against most other major currencies at 90.82, despite a slight decline at the start of the European session.
