AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
.jpg)
The UK share markets are set to open on a positive footing on Tuesday, 2 February, following the market-wide upsurge in the Asian stocks with global equities amplifying the gains. The rapidly progressing Covid-19 vaccination programme is seemingly reinforcing the confidence amid the market participants.
The Covid-19 crisis-led black swan event has seemed to have braced the preparedness among the regional authorities and the government. The collective measures of tackling the mutated variant alongside increasing the pace of inoculation has been eventful for the domestic market.
It develops a fair chance of relief from the stiffer curbs, reopening of businesses with maximum operations and withdrawal of national lockdown in the UK, effectively catalysing the economic recovery from the troughs recognised during the nearly year-long slump.
GBP stays in green
The Great Britain pound (GBP) continued to trade in green against the US dollar (USD) on Tuesday. At around 0650 GMT, the GBP vs USD currency pair was trading at 1.3682, up 0.15 per cent from the previous close of 1.3661 at the interbank foreign exchange market.
GBP vs USD (2 February)
(Source: Refinitiv, Thomson Reuters)
During the session so far, the currency pair has shuttled between a range of 1.3659 and 1.3699, respectively. The pound sterling fell sharply in the late trade on Monday after soaring past 1.37 against the greenback. The Bank of England had fixed a reference exchange rate of 1.3728 USD and 1.1300 EUR vs a unit of pound sterling on 29 January.
Health Secretary updates on Covid-19 & vaccines
On 1 February, Health Secretary Matt Hancock provided an update on the ongoing immunisation drive dictating that about 9.2 million people have been vaccinated across various jurisdictions in the UK. The figure of more than 9 million includes over 900,000 inoculations last weekend.
Most people who have been vaccinated so far belong to the first four priority groups. The government’s target of immunising the maximum number of people in the first four groups and the vulnerable patients by the middle of this month can certainly help in alleviating the pressure on the National Health Service. The objective can further steer in decreasing the hospital admissions and the subsequent number of people lying on ventilators.
According to Hancock, one in every 60 adults in the UK has received the jab in one single weekend. Up until 1 February, more than half people in their 70s have been vaccinated, while almost 9 out of 10 people have received at least one dose in the age group of 80 years and above.
The authorities have so far identified 105 cases of the South African variant in the UK. Of the total, 11 people didn’t have any international travel link, the Health Secretary said. As of now, there is no evidence that indicates the severity of this variant, Hancock said, adding that the healthcare department is increasing extra testing into the areas where the new strain of the virus has been found.
