The greenback is retreating against the pound amid
hopes that the UK vaccination campaign is ramped up. Immunization optimism trumps concerns about the Indian variant of coronavirus that could delay the June 21 reopening. Bank of England Governor Andrew Bailey is set to speak later. Speculation about a rate hike in 2021 is prevalent.
EUR/USD is hovering above 1.22, benefiting from dollar weakness and hope that Germany could remove covid restrictions shortly, responding to falling cases. Markit s final Purchasing Managers Indexes for the services sector are set to be upbeat. Preliminary inflation statistics for May are forecast to print a moderate increase in the headline Consumer Price Index.
LONDON Bank of England Governor Andrew Bailey said on Tuesday there was no case yet for making financial institutions set aside more capital for climate…