Main currencies little changed

The main exchange rates are largely unchanged this morning with the euro and sterling continuing to hover just above $1.20 and $1.39 against the dollar respectively, while the single currency is trading just below 86.5p against the pound

European and US stocks closed in positive territory again yesterday, while core bond yields were marginally lower at around -0.27% and 1.55% in the case of German and US 10-year yields respectively

The ECB Governing Council meets today but, having announced an increase in the pace of bond purchases last month, should be happy to just sit on its hands for now

In a ruling delivered yesterday, Germany’s Constitutional Court paved the way for the country to ratify the EU’s 750 billion euro recovery fund, a move which has been welcomed by the European Commission

Data due today includes consumer confidence in the Euro Area and jobless claims in the US