British real wealth is rising

Sterling climbed to $1.40 for the first time in almost three years as investors looked past gloomy data and instead focused on hopes the country’s rapid coronavirus vaccine rollout will boost economic prospects.

The currency has risen 2.4 per cent against the dollar since the end of 2020, and more than 3 per cent against the euro. It traded as high as $1.4008 and €1.156, respectively, on Friday.

Here is more from the FT.