Pound hits $1.40 for first time since 2018 amid Covid vaccine optimism

Sterling rises against dollar and euro and is best-performing G10 currency

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The pound has hit $1.40 against the US dollar for the first time in almost three years, on expectations that the UK's Covid-19 vaccination rollout will help the economy to rebound more quickly.

Sterling hit $1.4005 during early trading on Friday morning, a rise of 0.2% on the day, touching a level not reached since April 2018.