The US dollar pushed higher in the midst of optimism over the incoming Biden administration as market risk appetite generally diminished.

With renewed uncertainty over the chances of a UK-EU post-Brexit trade agreement, the appeal of the pound diminished this week.

Weaker-than-expected monthly UK GDP reading left the pound on a weaker footing against its rivals. ECB looks set to enact fresh monetary loosening measures

Sterling was pressured lower after Chancellor Rishi Sunak signalled that there wouldn’t be an extension to the government’s furlough scheme.

The pound extended its recovery into a second week last week, with the announcement of a new stimulus package aimed at protecting jobs helping to buoy Sterling sentiment. At the same time, the euro faced a setback last week, as the European Commission slashed its growth forecast for the Eurozone and warned there are 'exceptionally [...]

Improvement in the UK’s May PMIs was not enough to offer the pound any significant boost – speculation over the Bank of England’s policy outlook.

Support for the pound weakened in response to the uk manufacturing trends, pointing towards a sharp loss of economic momentum.

A smaller than expected decline from the British Retail Consortium for retail sales figure was not enough to keep the pound from edging lower

Euro recovers ground as Eurozone finance ministers reach support agreement. News that an agreement had finally been reached helped EUR bounce back

The rising number of coronavirus infections and deaths in the UK, coupled with a concerning slump in service sector output, put the pound under pressure towards the end of last week. Political squabbles within the Eurozone put a dampener on the euro, meanwhile, as Germany dug in its heels over a proposed shared debt scheme [...]