fxstreet.com 05 Feb, 2021 07:15 am

Stronger sterling as vaccinations move ahead

Stronger sterling as vaccinations move ahead
US non-farm payrolls are expected to increase around 100k. The labour market is still suffering from weakness in the service sector, where most of the

UK recovery & Sterling: EUR/GBP declined significantly after yesterday's Bank of England meeting, where the bank indicated that it is not about to cut rates into negative territory, although the door is not completely shut.strongGBP rose the most yesterday, where BoE indicated it is not about to introduce negative rates.The labour market is still suffering from weakness in the service sector, where most of the jobs are and have been lost as well.The labour market will be challenged until the economy can open up fully later this year and service jobs come back.

In Sweden, we get production data and household consumption for December.5% qoq vs +1% qoq expected) and we suspect that weak household consumption during December was the main reason.

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