GBP (£) rising against the USD ($)

[-:Undertaker:-]

GBP (£) rising against USD ($)

Britain's currency strengthening against competitors amid favourable economic and political outlook

1️⃣
The UK economy and sterling are some of the biggest winners from a rapid vaccine rollout, opening the door to looser restrictions.

Britain has a particular exposure to the "back to normal" trade as the dollar weakens on rising risk appetite, according to @Nomura 👇 pic.twitter.com/FtRFpFm0Wa

— Telegraph Business (@TeleBusiness) February 11, 2021

3️⃣
Brexit uncertainty has been the pound's kryptonite since the EU referendum, sending it crashing down to $1.20 at points.

However, the no-deal risk looming over UK assets has been removed and investor confidence is finally recovering 👇 pic.twitter.com/vzo2zWqE8h

— Telegraph Business (@TeleBusiness) February 11, 2021

Political certainty and a good Covid vaccine rollout seem to be helping.

Bad news for me though, as I get paid in Euros. Luckily now though i've changed banks where I can have multiple currency accounts at once.

[-:Undertaker:-]

£1 GBP now buys you $1.39 USD.

Pound Back to February 2016 Levels Against Dollar https://t.co/fvzYEdGaBo pic.twitter.com/d0tTNPiPkf

— Global Guido (@GloboGuido) February 15, 2021

[-:Undertaker:-]

Now at £1 to $1.40

Sterling ended the week above $1.40 and €1.15. Not sure UK economic policy makers will want it to get much higher.

— Andrew Neil (@afneil) February 20, 2021

This is actually pretty high, as prior to the referendum when the GBP went down the Pound was overvalued given currency markets were wrongly confident of a Remain victory and continuation of the Cameron Ministry which made the fall in "shock" more than it would otherwise have been. Like Andrew Neil says, a strong currency isn't always great so it'll be interesting to see what happens - looking good though given Brexit has gone well, the vaccine rollout is going really well and we've got a stable government in office until 2024/2025. The only bump in the road you could possibly see is a battle between HM Government and the SNP bringing political instability, depending if she wants to break the law or not and hold an illegal referendum.

Sterling is the best performing major currency of 2021.