Rolling coverage of the latest economic and financial news
- Introduction: Pound strongest against US dollar since late April 2018
- UK vaccination programme on track
- Japan’s Nikkei highest since 1990
- US crude oil back over $60/barrel
Here’s Reuters’ take on the pound’s rally this morning:
The British pound climbed above $1.39 for the first time in nearly three years on Monday, lifted by broad-based dollar weakness as well as Britain’s success in rolling out the COVID-19 vaccine.
The currency has been a key gainer against a struggling greenback this month as the aggressive rollout of the vaccination programme in the United Kingdom raises hopes its economy will be able to recover quickly, compared to its European peers.
British pound above $1.39 for first time in nearly three years https://t.co/wNFnf7IgtW pic.twitter.com/qMsHL41D5Q
European stock markets are all stronger this morning, led by the UK’s FTSE 100 which is now up 92 points or 1.4% at 6682.
“Government attempts to manage expectations on Covid better are helpful to the market which is now probably pleasantly surprised at just how quickly the UK has vaccinated the most vulnerable sections of its population.
“This is making it easier for investors to look through to a reopening of the economy even if the pace at which restrictions are eased remains a topic of fierce debate.
