Coins plunged

UK pound coins plunge into water in this illustration picture. Sterling hit its highest level against the euro since the end of February 2020 as easing concerns about the economic impact of the pandemic boosted risk-on currencies, while analysts expect more rate rises from the Bank of England in 2022. “The sterling is a risk-on currency that will benefit from the huge financial and fiscal stimulus and a more benign pandemic outlook,” Enrique Diaz, chief risk officer at Ebury, said. His short-term target is at its pre-pandemic levels at 83 pence per euro. — Reuters