Pound renewed two-years’ highs. Overview for 23.02.2021

The British pound in pair with the US dollar looks impressively strong, the current quotation being 1.4069.

The key support factor here is the aggressive anti-coronavirus vaccination campaign in Great Britain. The population is vaccinating willingly, and the more British people get the vaccine, the more sure the market becomes that the economy will soon get back to normal.

The statistics published today showed a decrease in the number of unemployment claims in January by 20 thousand against the forecast growth by 13.8 thousand and the previous value of 7 thousand.

Average monthly earnings in October-December grew by 4.7% against the preceding growth by 3.6% and the forecast of 4.1%.

A bit later, we will see the unemployment statistics for December. The forecast suggests growth to 5.1% from 5.0% previously. However, as long as the market is generally positive, even weak statistics will be taken normally.

Meanwhile, the Cabinet of the UK is working on the strategy of the escape from lockdowns and isolation. All decisions will be made based on the current situation with the immunity establishment and the vaccination campaign in order not to destroy the positive effect reached by now.

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Source: RoboForex


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