Pound hits three-year high against the dollar as vaccine rollout raises hopes of lockdown easing

THE pound has hit a three-year high against the dollar today as the vaccine rollout raises hopes of lockdown easing.

It comes as Britain smashed its vaccine target over the weekend, with 15million Brits now having received the first jab.

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This is enough to cover everyone in the top four most vulnerable categories, which is key to easing lockdown and reopening schools.

Prime Minister Boris Johnson is also set to share his plans for exiting England's lockdown next Monday, on February 22.

Yesterday, an upbeat Mr Johnson said falling Covid rates are paving the way for the nation to get back to normal.

The news has boosted financial markets, and the value of sterling climbed above $1.39 this morning – a level last seen in April 2018.

The pound also hit a nine-month high against the euro at €1.147.

The FTSE 100, which tracks the performance of the UK's biggest 100 companies, has also climbed during the day and is currently up by 2.10%.

Chris Turner, global head of markets at ING, told Reuters: "[The pound] continues to reap the dividends of a successful vaccine rollout.

"And momentum is building towards a reopening of the economy – probably starting with schools on 8 March."

More to follow…

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