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Market Update

Main focus for markets throughout today will be Fed Reserve Chairman Jerome Powell’s speech later this afternoon which will provide direction for Quantitive Easing & Interest Rate’s later in the year.

The U.S Dollar has risen consecutively for the last 4 days on the suggestion The Fed Reserve may start to gradually ease it’s Quantitive easing programme earlier than expected due to the economy starting to recover.

GBP/USD is expected to challenge the 1.37 area for a third time in the short term, helped mainly by the vaccination programme in The UK. Covid-19 cases have been dropped from the peak which provides hope that deaths will in turn gradually decline as well.

With The UK currently having vaccinated 4.52% of the population, the most within the western world, it brings optimism for The UK to become the first country & economy to re-open up and get on the path to recovery.

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