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The pound at the highest in two and a half years against the dollar, thanks to Brexit and the vaccine


The pound rose to its highest in two and a half years against the dollar on #Thursday, with traders preferring the #British currency to the greenback with the entry into force of #Brexit.

#Around 8:20 p.m. GMT, the pound gained 0.31% against the dollar, to 1.3667 dollars to the pound, and 0.98% against the euro, to 89.38 pence to the euro.

#By 10:30 a.m. GMT, the #British currency had reached its highest level against the dollar since #April 2018, at 1.3686 dollars to the pound.

#Trade volumes were reduced during this holiday season, exacerbating price movements.

#As the post-Brexit transition period ends on #Thursday, the trade agreement reached in extremis on #December 24 was adopted by the #British #Parliament on #Wednesday.

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“The pound is strengthening as investors dismiss the risk of a no-deal #Brexit,” #Fawad #Razaqzada, analyst at #ThinkMarkets, told AFP.

#In addition, the authorization of #AstraZeneca’s vaccine, cheaper and easier to store than that of #Pfizer / #BioNTech, improves the prospects for the #United #Kingdom, one of the most affected countries in #Europe, and currently facing a surge in contaminations attributed to a variant of the virus.

“#Vaccine hopes have propelled the pound,” commented #Jeffrey #Halley, analyst at #Oanda.

#But over the whole of 2020, the pound remained sharply down 5.65% against the euro and analysts mainly explained its annual increase of 3.11% against the dollar by the weakness of the greenback.

The dollar once again hit its lowest level in two and a half years against a basket of major other currencies, and was down 8.95% against the euro in 2020.

“The US #Federal #Reserve (#Fed) will keep its monetary policy as loose as possible for as long as possible, given the deplorable state of the economy,” which makes the dollar less attractive, commented #Stephen #Innes, analyst at #Axi.

#In addition, bitcoin, the first cryptocurrency, whose market ignited in 2020 (+ 295%) and which reached around 00:20 GMT a new record since its creation at 29,292.47 dollars, was traded at 20:20 GMT at 28,938.59 dollars (+ 0.11%).

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js-vmt / lo / rle



[ source link ]
https://www.boursorama.com/actualite-economique/actualites/la-livre-au-plus-haut-en-deux-ans-et-demi-face-au-dollar-grace-au-brexit-et-au-vaccin-835c78bb0dd9fd94f0cda9c7f8bfeaa4

#pound #highest #years #dollar ##Brexit #vaccine

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