Sterling continues its ascent against dollar and gains on euro as Covid-19 vaccine rolls out

Sterling surged through $1.40 for the first time in nearly three years as investors bet the UK’s rapid vaccine rollout will help pave the way for a reopening of the economy this year.

Sterling is headed for a sixth week of gains after the UK hit its target of immunizing its top four priority groups, including the over-70s, by February 15.