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Lagging behind

Today's news headlines: 

‘London leaders push for Covid vaccine uptake as capital lags’. London is preparing to hold a vaccine summit to resolve the uptake issue in the capital. Only 70.7% of adults aged 50-54 have had both doses, while elsewhere in the country, that rate is up to around 81.1%. These concerns come as the UK reported over 16,000 new Coronavirus cases on Wednesday, the highest levels seen since the start of February. Vaccinations are expected to have prevented more than 14,000 deaths, explaining this recent push to get as many people as possible double vaccinated before all restrictions are lifted. (Financial Times)

‘Central banks step up fight against cryptocurrencies’. Central banks have stepped up their criticism of cryptocurrencies recently, touting the lack of redeeming qualities of the asset class along with the threat they pose to the public. Bitcoin has faced one of its most significant falls in recent months, with the price halving from highs of $65,000 to around $32,000 amid threats of crackdowns from China. Stablecoins—cryptocurrencies tied to other assets—have also been criticised, with the Bank for International Settlements claiming cryptos are attempting to gain credibility by linking themselves to these legitimate assets. (Financial Times)

Today's events, rates, and data 

  • The Nasdaq finished the day at yet another record high yesterday, up 0.13% on the day despite the S&P 500 closing 0.11% lower. Cable is trading just above $1.3950, with the Bank of England due to meet today. Talk of inflation and future interest rate hikes will likely incite some movement.

Today's events

German Ifo Business Climate: 9:00AM
UK Monetary Policy Summary: 12:00PM
UK MPC Asset Purchase Facility Votes: 12:00PM
US final GDP q/q: 1:30PM
US Unemployment Claims: 1:30PM
FOMC Member Raphael Bostic Speaks: 2:30PM
FOMC Member John Williams Speaks: 4:00PM

Interbank rates:

GBP/USD: 1.3969
EUR/USD: 1.1933
GBP/EUR: 1.1705
USD/CAD: 1.2299

The markets are moving. To speak to our team, please call +44 (0)20 3465 8200.