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Today's news headlines: 

‘Detailed and vitriolic: Dominic Cummings five most explosive claims’. In Dominic Cummings’ parliamentary testimony, he uncovered some shocking truths on the governments’ handling of the pandemic. The most damning indictment was on the Health Secretary Matt Hancock who was accused of lacking proper judgement and lying about certain decisions. With Boris Johnson, the accusations are that he failed to take the virus seriously in February last year and was apprehensive of introducing lockdown measures, reportedly wanting to put the economy first. Of course, these are merely accusations for now, although more concrete evidence is expected to be uncovered in the Coronavirus review in spring 2022. (Financial Times)

‘Scientists claim to have solved Covid vaccine blood-clot puzzle’. The rollout of the AstraZeneca and Johnson and Johnson vaccines have been delayed due to reports of blood clots. Scientists now believe they can alter the jabs slightly to change the way they work and prevent the reaction that causes these clots from happening at all. Due to these reactions, the vaccines have been discontinued in a number of countries until such side affects can be kept low or nonexistent. The possibility of a return of these vaccines will be a huge boost to vaccination efforts across Europe and the rest of the world. (Financial Times)

Today's events, rates, and data 

  • It was a fairly muted day in markets yesterday with the S&P 500 climbing 0.19% and the FTSE 100 moving 0.04% lower. Cable has pulled back slightly overnight trading closer to $1.41, while the Euro has also weakened against the Dollar falling to $1.22.

Today's events

German Gfk Consumer Climate: -7.0 vs -8.6 last month
US Preliminary GDP q/q: 1:30pm
US Unemployment Claims: 1:30pm
US Pending Home Sales m/m: 3:00pm

Interbank rates

GBP/USD: 1.4102
GBP/EUR: 1.1572
EUR/USD: 1.2190
USD/CAD: 1.2125

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