The Great British Vaccine Trade Is Here to Stay
There are sound reasons why sterling will continue to appreciate against the euro.
A summer of British teas?
Photographer: KYLE GRILLOT/AFPIt’s a mighty slow burn but the pound keeps edging up against the euro, and there are plenty of sound economic reasons why that should persist.
The speed of the vaccine rollout in the U.K. is undoubtedly impressive, with more than 7 million shots administered, and its potential release of the domestic economy from repeated lockdowns could be just as seismic. No wonder the European Union seems increasingly troubled by its own comparatively dismal vaccine performance. There’s still a long way to go, and the U.K.’s decision to space out its doses is untested, but this wasn’t the way things were meant to turn out post-Brexit (at least in Europe’s view).