Pound hits 21-month high against euro as single currency falls amid threat of new lockdowns on the Continent

 The pound hit a 21-month high against the euro as the threat of coronavirus lockdowns on the Continent hit the single currency.

Sterling rose as high as €1.1929 – a level not seen since February 2020 and up 12 per cent from the pandemic low of €1.06 in March last year.

With Europe once again becoming the epicentre of the pandemic, Austria entered its fourth national lockdown and said it would be compulsory to be vaccinated from February 1.

A fourth wave of infections has also plunged Germany – Europe’s largest economy – into a national emergency and a full lockdown could follow. Analysts at ING said the UK appeared ‘slightly more resilient’ to the fresh wave of Covid cases at the moment – boosting the pound against the euro.The pound hit a 21-month high against the euro as the threat of coronavirus lockdowns on the Continent hit the single currency.

Pound up: Sterling rose as high as €1.1929 - a level not seen since February 2020