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Sterling continued to outperform its peers last week on the UK’s rapid vaccination progress. The euro, meanwhile, continued to struggle.

The US dollar traded higher against just about every other major currency on Tuesday, while the Australian dollar fell sharply after a dovish turn from the RBA.

China’s economy suffered from its worst performance since 1976 last year, although growth still remained positive. The ability of Chinese authorities to suppress caseloads and enforce more localised restrictions have proved to be less harmful to the country’s economy. Read the latest CNY report from our expert analysts.

All G10 currencies lost ground against the US dollar last week, aside from sterling that has been buoyed by the UK’s impressive progress towards mass vaccinations.

The euro sold-off against its major peers on Wednesday following some unexpectedly dovish comments from a European Central Bank member.

The UK hit a grim milestone of 100,000 COVID-related deaths on Tuesday, but sterling continued to rally as investors remain impressed by Britain’s vaccination progress.

The US dollar fell again last week as investors favoured riskier assets. Sterling continued to hold its own amid the UK’s rapid vaccine rollout.

Thursday’s ECB meeting was largely a non-event for currency markets. Meanwhile, sterling continued to hold its own, with investors encouraged by the UK’s rapid vaccination progress.

The euro and sterling both rallied against a broadly weaker US dollar on Wednesday ahead of today’s presidential inauguration ceremony.

Will US Treasury Secretary nominee Janet Yellen talk up the need for greater fiscal stimulus today?