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Forex News: Pound Higher As PM Johnson To Detail Reopening

Pound Higher As PM Johnson To Detail Reopening Plans

04/05/2021 - 07:15:00 (RTTNews)

(RTTNews) - The pound appreciated against its major counterparts in European deals on Monday, as U.K. Prime Minister Boris Johnson is set to outline plans to reopen the economy and the resumption of international travel later in the day.

The PM is expected to set out further details on resuming foreign travel from this summer.

The authorities are considering to use a special traffic light system which would categorize possible destinations into green, yellow and red.

The government is mulling to allot the coronavirus passports to U.K. residents to access public events.

All retail, outdoor hospitality and hairdressers will be reopened on April 12 under the current plan unveiled in May.

European markets are closed on account of Easter Monday.

The pound rose to 0.8472 against the euro, its biggest since February 2020. Next key resistance for the pound is seen around the 0.82 region.

The pound firmed to 1.3074 against the franc, a level unseen since December 2019. If the pound rises further, it may find resistance around the 1.33 level.

The pound jumped to a 2-week high of 1.3869 against the greenback, after falling to 1.3813 at 2:00 am ET. The pound may test resistance around the 1.41 level.

The pound approached 153.37 against the yen, registering a 3-year high. The pound is poised to find resistance around the 156.00 level.

Looking ahead, U.S. ISM services PMI for March and factory orders for February are scheduled for release in the New York session.

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