Vaccine Concerns Impacts Pound and Euro

Tuesday began with a slow start for the Pound as it hit a number of lows against many of its peers following news that more countries had suspended their rollout of the AstraZeneca vaccine. 

Despite this, the losses were capped after the European Medicines Agency made it clear that the vaccine is not linked to blood clots. At the end of trading yesterday, according to the Foreign Exchange Market the currency finished at 1.168 against the Euro and 1.3901 against the Us Dollar.

It was a difficult start to the day for the Euro as German economic sentiment was the only available data to give it a temporary nudge in the right direction. However, the only reversal of these early concerns was the concerns around the suspension of the AstraZeneca rollout.

The US Dollar continued to push higher yesterday and this happened during a relatively prevalent risk-off mood. However, some of these gains were lost during the afternoon session following the news that US retail sales figures came in lower than expected. Today, the latest policy meeting from the Federal Reserve will be the main concern for investors as interest rates are likely to be kept on hold.


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