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Vaccine rollout boosts the pound to three-year high

Vaccine rollout boosts the pound to three-year high

Sterling has hit its highest level against the dollar since April 2018, reaching a high of $1.3918, boosted by optimism around the country’s COVID-19 vaccine rollout. The pound also hit €1.1463 against the euro, its highest level since April 2020. Some forecasters have predicted that, thanks to the speed of the vaccine rollout, the UK economy could be one of the fastest to recover from the pandemic, potentially sending the pound as high as $1.45. However, Société Générale strategist Kit Juckes has cautioned that due to the nature of the global economy, the UK will only see a full economic recovery once more of the world makes progress on rolling out vaccines.

Read more: Daily Mail


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