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- European session review: GBP appreciates amid optimism over Britain’s rapid rollout of coronavirus vaccines
European session review: GBP appreciates amid optimism over Britain’s rapid rollout of coronavirus vaccines
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 07:00 | Germany | CPI, m/m | January | 0.5% | 0.8% | 0.8% |
| 07:00 | Germany | CPI, y/y | January | -0.3% | 1% | 1% |
| 07:45 | France | Industrial Production, m/m | December | -0.7% | 0.2% | -0.8% |
| 13:00 | Eurozone | ECB President Lagarde Speaks | ||||
| 13:30 | U.S. | CPI excluding food and energy, m/m | January | 0.1% | 0.2% | 0% |
| 13:30 | U.S. | CPI, m/m | January | 0.4% | 0.3% | 0.3% |
| 13:30 | U.S. | CPI, Y/Y | January | 1.4% | 1.5% | 1.4% |
| 13:30 | U.S. | CPI excluding food and energy, Y/Y | January | 1.6% | 1.5% | 1.4% |
USD rose against its major rivals in the European session on Wednesday as investors cheered the UK's progress on the rollout of coronavirus vaccines, which is expected to support the country's fairly fast economic recovery this year. Britain is vaccinating people way faster than the U.S. and the EU. According to Bloomberg’s vaccine tracker, 18.9% of the British population has received at least one dose. The U.S. has given 10.2% of its population at least one shot; while France and Germany are each at around 3%.
The pound also continued to see support from the Bank of England’s (BoE) last week upbeat prediction that the UK's economy will regain its pre-COVID size by the first quarter of 2022.
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