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    WillU FX Market Update 14.01.2022

    The UK economy has surpassed pre-covid levels for the first time in November after recording stronger-than-expected growth. The UK economy grew 0.9% between October and November last year, which was higher than economist expectations with the economy now 0.7% larger compared to February 2020. The construction sector grew 3.5%, with manufacturing and the professional sector also seeing growth.

    The US are putting pressure on its European allies to agree a new round of fresh sanctions against Russia, as progress slows on a Ukrainian agreement despite weeks of talks. In preparation the US have also discussed a range of possible actions Russia could undertake should it retaliate to new sanctions; this includes a coup against the Ukrainian President.

    UK Prime Minister Boris Johnson and his government will not face a police inquiry into the alleged pandemic rule-breaking parties in Downing Street unless an ongoing probe shows there to be criminal evidence. Pressure is continuing to mount on the Prime Minister as news breaks of further government parties during lockdowns.

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