Market report: pound stays steady against majors


Yesterday was another uneventful day for sterling as a lack of headline data saw it trend sideways against the euro and dollar.

However, UK Covid cases are rising again, so sterling may make some mild moves once today’s case figures are released. But with hospitalisation staying low, any market movement will likely be short lived.


Stateside, all eyes are on Friday’s virtual Jackson Hole Symposium. Central bankers will meet online to discuss current key economic issues, with tapering and interest rate rises a hot topic. Unexpected comments from any party will likely move the market.

Last week the Federal Reserve announced they could start tapering asset purchasing by the end of the year. Investors will be looking for further guidance on this in Fed Chair Jerome Powell’s speech on Friday, where he’s expected to comment on tapering.

If he downplays it or announces a delay to last week’s statement, the could dollar weaken. Similarly, if he announces bringing tapering forward, it should strengthen.

Key announcements