Two-month high for the pound

Two-month high for the pound

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Sterling has reached a two-month high versus the euro and the US dollar as news of a successful Covid-19 vaccine coupled with increased hopes of a Brexit trade deal boosted the pound.

The UK has pre-ordered a substantial amount of the Pfizer vaccine, pushing it towards the front of the queue for the vaccine’s rollout, if it reaches that stage, potentially putting the country, and its economy, on a course for recovery. 

Following the House of Lords rejecting the Internal Market Bill, a call between President-elect Biden and UK PM Johnson took place. According to the press, Johnson has reassured Biden that Brexit will not jeopardise the Good Friday Agreement. Many now see an opportunity for the proposed agreement to be watered down, which could help ongoing Brexit negotiations given that the Internal Market Bill has been a real source of contention during talks.  

 

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