The pound has hit its highest level against the dollar for almost three years as global markets were buoyed up by hopes for a faster economic recovery from the coronavirus pandemic. Sterling rose by 0.5% to hit a 33-month high against the dollar on Monday, trading above $1.39 on the global currency markets for the first time since 2018, while also rising to a nine-month high against the euro of almost €1.15. Against a backdrop of growing optimism amongst global investors over the economic rebound from the crisis and rising commodity prices, the FTSE 100 closed up 2.5% at 6,756, marking the biggest daily gain for more than month. The biggest risers included British Airways owner IAG, which climbed 7%, National Express, which rose 11%, and cruise line Carnival, which ended the day up 8%. The positive figures came after more than 15 million people in Britain had been offered their first coronavirus vaccine, and as Boris Johnson prepared to outline a roadmap next week for easing lockdown restrictions this spring. The UK’s Brexit deal, despite evidence of problems with cross-border trade a month on from leaving, has also relieved pressure on the currency. Hopes for a swift global rebound were underscored by Japan’s ...read more...