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Pound Rises ‘Like a Phoenix’ in Longest Rally in Half a Decade

  • Sterling gains versus common currency for ninth staight day
  • Gains spurred by optimism U.K. economy will bounce back faster
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Sterling’s vaccine-fueled rally against the euro is beginning to look relentless.

The pound extended its longest winning streak in five-and-a-half years, rising for a ninth straigh day, after the Telegraph reported the U.K.’s exit from lockdown could be accelerated if data on the effect of vaccines prove better than expected. That’s adding to optimism that Britain will bounce back faster than its European peers.