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Now that a plan is in place, what’s next for GBP?
The plan to reopen the UK was laid out yesterday, and things couldn’t be better! Everyone will be back outside and enjoying cocktails and hugs by mid-June. However, we did see a mixed bag of employment data from the UK today. Although the headline Claimant Count Change for January was better at -20K vs +25k expected, the unemployment rate ticked higher from 5% to 5.1%. But that doesn’t matter, because it’s in the past. The reopening is the future. Not to sound like a broken record, but the GBP has been on a tear since mid-November. First, hope for a positive Brexit scenario, and then the done deal. Throw in a ... (full story)