GBP, EUR / GBP Price Analysis and News
- Sterling Losses Recover as Medical Authorities Confirm Benefits Outweigh Risks
- Vaccination alternatives for those under 30
AstraZeneca vaccine last
The pound has been under noticeable pressure for most of today’s session, and although most of this was caused by the square of the position, especially on EUR / GBP, after correcting to the 0.86 midpoint. The risks associated with the AstraZeneca vaccine and its association with rare forms of blood clots are also increasing.
BLOOD CONNECTION: The EMA stated that unusual blood clotting with the Astrazeneca vaccine should be listed as a possible but rare side effect, but reaffirmed that the benefits still outweigh the side effects. The UK MHRA has come to the same conclusion, stating that benefits are still very favorable for the vast majority of people. However, the UK noted that people under 30 should be offered an alternative to the Astra vaccine, such as Pfizer or Moderna. Although the chairman of the UK vaccine group has clarified that they will not recommend stopping vaccination of anyone in any age group.
PERIOD OF EXECUTION: Regarding the vaccine rollout schedule, UK Deputy Chief Physician Wang Tam says the impact on the overall vaccine rollout schedule should be “nil or negligible.”
GBP REACTION: Since the start of the press conference, the pound has offset some of the losses slightly as medical consultants continue to assume the benefits outweigh the risks, while the UK said the rollout program would not be adversely affected. Keep in mind that there are several vaccines in the UK to fill any gaps in Astra vaccine deployment, such as the Pfizer vaccine and the recently released Moderna vaccine.
GBP / USD Chart: Intraday Time Frame
Source: Refinitiv
EUR / GBP Chart: intraday time frames
Source: Refinitiv
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