UK Lockdown Restrictions Ease Helping to Steady the Pound

The Pound managed to limit any losses on Friday after it struggled through the week as a result of vaccine concerns and the potential blood clot link.

According to the Foreign Exchange Market, the currency managed to hold at 1.1519 against the Euro and while it held at 1.3709 against the US Dollar. This week might be a different one for the Pound as the next milestone on the roadmap out of coronavirus restrictions is hit, with the economy opening up further.

Last Friday, the Euro struggled as a result of poor German industrial production figures as well as a rebound in the US Dollar. German industrial production contracted for a second consecutive month although the latest retail figures could give the currency a boost should they reach the target of 1.5% growth.

The US Dollar finished off the week strongly after the demand for the safe-haven currency increased. A rise in the US producer price index also gave the US Dollar a surprise boost and that could lead to the Federal Reserve raising interest rates sooner than expected.


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