The pound has reacted to stock market jitters this week, but the speed of the UK’s vaccination programme continues to provide support. Sterling is still at strong levels against the euro and the dollar but has weakened slightly this morning.
The markets appear to be turning a blind eye to the infection and death rates in the UK and are instead focussed on the vaccine rollout, which is seen as essential to economic recovery.
A new coronavirus vaccine, which is still being tested, has shown to be 89.3% effective in large-scale UK trials. It is also effective against the new variant of the virus. If approved for use, the UK will receive 60 million doses in the second half of this year.
