Sterling helped by BoE £150bn support

Sterling helped by BoE £150bn support

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The pound strengthened this morning against other major currencies on the news that the Bank of England will boost support for the UK economy by £150bn.

Investors had been anticipating a £100bn package for quantitative easing, and so welcomed the announcement from the BoE of an additional £150bn to aid the UK economy throughout the second lockdown. 

This news is expected to be short-lived, however, on a day where EU and UK negotiators have today declared that significant differences remain between the two parties. A further speedbump for the Brexit deadlock at the same time as the UK heads back into lockdown could create further volatility for the market. 

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