Sterling continued its climb against the euro yesterday, hitting another highest level since last spring. It also set a new nearly three-year high against the US dollar.
With no data releases in the UK yesterday, the prompt for sterling’s success continues to be the rapid drop in Covid cases, hospitalisations and deaths as the vaccine approaches reaching a quarter of the population.
Disappointing results for European industry will have fuelled the market’s optimism about sterling, but the pound will be subject to movement if better EU data is revealed during the day.
