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The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) to its highest level in about three years.
Gains by the Sterling Pound came amid the decline of the USD, as well as an improved sentiment in the United Kingdom (UK) that the rollout of Coronavirus vaccines will soon help end the third lockdown, which was imposed by the government as a preventive measurement against the spread of the virus.
More than 15 million people in Britain have received their first dose of vaccines, making the UK ahead of many European peers in distributing vaccines.
This was reflected on today’s positive performance by the main index of the London Stock Exchange (LSE), FTSE100, which closed higher by 2.52%.
Today, the GBP/USD pair rose above the 1.39 level for the first time since April 2018.
The pair is trading higher for the day by 0.43% at 1.3908, moving throughout the day in a range between 1.3843 and 1.3919.
