Mac soared higher than my hopes for the future *ago

Markets were also hedging the risk of an earlier rate hike from the US Federal Reserve at the time, despite officials vowing earlier in the week that any move was long in the future. It came after a sharp spike in bond yields, with investors adopting a risk-off approach. Over the next two months the pound was under pressure as traders turned to safer assets such as the dollar amid a sell-off across global markets. But it was not as buoyant against the euro, retreating from 11-month-plus high in the middle of the month to fall slightly.

News of the UK inoculating 15 million people in the top four priority groups by 15 February came as a welcome boost.Дays later it hit $1.40, shrugging off disappointing UK data amid a wave of vaccine optimism and hopes of eased lockdown restrictions in the country. The currency was helped by Britain leading the continentвЂ™s vaccination race, after becoming the first country to approve the Pfizer ( PFE) jab.ДЇebruary bought better luck for the pound, which continued its climb and soared to a 33-month high, breaching $1.39 for the first time since April 2018. The pound climbed at the start of the year and then fell sharply in the second half. It was also up against the euro at в‚¬1.1312. This was sterlingвЂ™s strongest level since May 2018. However, investor focus quickly shifted from Brexit to the pandemic and the economic backdrop.ДЄ few weeks later it reached a fresh three-year high against the dollar, trading at $1.3758 thanks to vaccine rollout optimism. The pound had initially benefited in the wake of the UK striking a trade deal with the EU on Christmas Eve 2020, after a painstakingly long negotiating period. UK prime minister Boris Johnson told people at the time to remain and work from home, while non-essential retailers stayed closed, along with primary and secondary schools across the country. In January, the currency suffered slightly against the dollar as England entered its third national lockdown, which lasted until the middle of February, due to rising cases of coronavirus.

It has since had a rollercoaster journey, battling lockdowns, COVID restrictions, rising inflation, and record low interest rates. The pound started the year against the dollar ( GBPUSD=X) at $1.3625, and at в‚¬1.1041 against the euro ( GBPEUR=X). The first day of 2021 marked not only the start of the new year but the beginning of a new journey for Britain as it left the European Union. However, investor focus quickly shifted from Brexit to the pandemic and the economic backdrop. The pound had initially benefited in the wake of the UK striking a trade deal with the EU on Christmas Eve 2020.

Mac soared higher than my hopes for the future *ago