Main exchange rates steady

There’s not much change in the main exchange rates this morning. The pound is still trading close to 89p against the euro and at about $1.3250 against the dollar, while the euro is hovering in and around $1.1850 against the US currency. Core bond yields, meanwhile, edged down yesterday and are lower over the week to date

Equity markets in the US lost ground yesterday, ending more than 1% lower, with further positive news on the vaccine front offset by concerns about the continuing rise in COVID-19 cases (which will see public schools in New York City close from today)

The annual rate of CPI inflation in the Euro Area in October was confirmed at -0.3% according to the final reading, the third month in a row that is has been in negative territory, while the core (or underlying) rate remained at 0.2% last month

Christine Lagarde says the ECB “responded promptly and forcefully to the first wave (of the coronavirus) that hit the euro area economies (and) we will address the current phase of the crisis with the same approach and determination”, as the central bank prepares to announce a package of measures at next month’s meeting

Data due for release today includes Euro Area construction output and weekly jobless claims in the UK