Sterling rallies on Brexit deal but is still close to its year low

The UK currency had slid from 73 pence on the eve of the 2016 referendum. 

As the dust settles over the Brexit trade deal, sterling is still trading close to its lowest levels of 2020, suggesting that the economic costs facing Britain from the Covid-19 crisis are weighing on currency investors.            

Since the UK voted in June four years ago to leave the EU, sterling has been a reliable measure of traders' fears that the British government would by accident or otherwise crash out of the EU without first securing a trade deal.