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Pound hits three-year high, as reopening hopes lift travel shares – business liv…

2 months ago
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5 min read
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Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

The pound has hit a new three-year high against the US dollar, amid optimism about the UK’s economic prospects as the country prepares to start reopening from the pandemic lockdown.

Sterling hit $1.42 this morning, for the first time since April 2018, as traders continue to drive the pound up on the foreign exchanges.




The pound vs the US dollar over the last five years

The pound vs the US dollar over the last five years Photograph: Refinitiv

The pound also rallied against the euro overnight, hitting €1.17 for the first time in a year.

With Covid-19 cases continuing to fall, and Britain’s vaccine programme outpacing Europe, there is optimism that the UK could have relatively strong 2021.



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