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GBP lifted by travel update

GBP lifted by travel update

Overall yesterday was a pretty quiet day currency-wise with the main pairs confined to narrow trading ranges, although the Pound did make modest gains on the Dollar and Euro.

A review of UK border rules regarding travel is due by the 31st July, and cabinet ministers will discuss allowing fully vaccinated travellers from the EU and US to avoid quarantine when they arrive in the UK.

Data-wise, the main US releases yesterday were somewhat mixed leading to stalemate. 

The EU delayed the possibility of legal action against the UK over breaches of the Northern Ireland protocol (aka sausage wars) to allow more negotiating room over the summer. 

GBP/USD opens this morning in the upper half of $1.38-1.39, while EUR/GBP is in the lower half of 85-86p.  

Elsewhere, EUR/USD has edged back above the $1.18 threshold.

Tonight’s US Fed meeting is not expected to have much impact on the Dollar given the overexcitement generated at last month’s meeting. 

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