Pound reaches two-year high as dollar slips

The pound climbed to its highest level against the dollar in more than two years on Friday as jitters over Covid an ultra-low interest rates weighed down on the US currency. Sterling rose more than 1pc against the dollar to above $1.33, briefly touching highs not reached since June 2018 in a major turnaround from the $1.14 hit at the depths of the crisis in March. It also climbed more than 0.4pc against the euro to €1.12. The US dollar index fell deep into the red in the aftermath of a spee