Markets monitoring coronavirus and political situation in the US

Markets monitoring coronavirus and political situation in the US

An article of impeachment against Donald Trump has been introduced by Democrats. Unless the President is removed from power by Vice-President Mike Pence there will be a vote within the next few days to impeach for inciting the attack at the Capitol last week. The FBI has warned that armed protests by Trump supporters are being planned for next week.

A worse-than-expected US jobs report on Friday emphasises the urgency for additional stimulus and markets seem optimistic that President-elect Joe Biden’s promise of further massive support will be delivered.

The Pound lost ground on Monday after Silvana Tenreyro, a Bank of England policy maker, said that negative interest rates could boost the economy.

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