Pound hits 21-month high against euro amid threat of lockdowns in Europe

Pound hits 21-month high against the euro as the single currency falls amid threat of new lockdowns across the continent


Pound up: Sterling rose to $1.1929 – a level not seen since February 2020

The pound hit its 21-month high against the euro as the threat of coronavirus lockdowns across the continent hit the single currency.

Sterling rose to $1.1929 – a level not seen since February 2020 and 12 percent higher from the pandemic low of $1.06 in March last year.

With Europe once again becoming the epicenter of the pandemic, Austria entered its fourth national lockdown and said it would be required to be vaccinated from February 1.

A fourth wave of infections has also plunged Germany – Europe’s largest economy – into a national emergency and could face a complete lockdown. Analysts at ING said the UK seemed “slightly more resilient” to the new wave of Covid cases at this point – giving the pound a boost against the euro.

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