Pound to euro exchange rate: Sterling hits six week high

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George Vessey, UK Currency Strategist, Western Union Business Solutions, shared his insight on the shaky start to 2021.

“Choppy currency markets yesterday highlighted the uncertain outlook for the year ahead as investors weigh up the race between the vaccine rollout and the spreading COVID-19 virus,” he said.

“Vaccines have illuminated the path to an economic recovery, which is why risk appetite remains upbeat and global stocks, commodities and emerging market currencies remain in high demand.

“However, the sense of optimism has been deflated by the discovery of more transmissible forms of coronavirus in the UK and South Africa, as well as the stuttering start to vaccination programmes in some advanced economies.”

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