British Pound Sterling banknotes are seen at the Money Service Austria company’s headquarters in Vienna, Austria, November 16, 2017. — Reuters picLONDON, Feb 10 — Sterling edged up against the dollar today, breaking above US$1.38 and touching its highest level in almost three years as Britain’s speedy coronavirus inoculation programme supports the currency.
Sterling was up 0.3 per cent to US$1.3850 against the dollar as of 0934 GMT, hitting its highest level since April 27, 2018.“GBP bulls have been flexing their muscles since the start of the year based on relief about the EU/UK trade deal and on hopes that the relatively rapid vaccine roll-out programme will lead to a fairly fast economic recovery this year,” said Jane Foley, head of FX strategy at Rabobank.
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