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GBP Recovering, Vaccine Rollout Impact "Negigible or Zero"

GBP
  • Price action in GBP reversing as the press conference continues. EUR/GBP rolling off the 0.8664 daily high and GBP/USD now around 60 pips off the session low.
  • Markets appear somewhat soothed that the only cohort impacted by AstraZeneca findings are the under 30's (a group that were very much at the back of the queue already), who will be offered an alternative (recall - Janssen, Novavax jabs are expected to come online in coming months as well as Pfizer & Moderna)
  • JCVI also conclude that impact on vaccine rollout will be "negligible or zero", which may mean lockdown easing schedule can remain unchanged

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