LONDON, April 1 Reuters The pound was little changed against the dollar on Thursday and a touch lower versus the euro, but traders remained optimistic about its longerterm prospects, boosted by expectations for a vaccineled economic recovery in the UK.
Sterling had its strongest quarter against the euro since 2015 in the first three months of the year, gaining around 4.8. Analysts said the rise was largely due to the UKs rapid vaccine rollout one of the fastest in the world as well as relief at the start of the year that a nodeal Brexit had been avoided.
Public opinion in Britain about the governments handling of the pandemic has turned positive and companies are also more optimistic, according to three surveys published on Thursday.
The British Chambers of Commerce said 55 of member firms expected higher turnover in 12 months ahead the highest in a year although immediate business conditions were well below prepandemic levels as the country began 2021 under lockdown.
On Wednesday, revised GDP data showed that Britains coronavirushammered economy grew more quickly than previously thought in the final three months of 2020 although it still shrank by the most in more than three centuries for the year as a whole.
This revision should support the pound on a relative basis, ING strategists said in a note to clients, with eurosterling remaining pressured near 0.8500.
At 0801 GMT, the pound was flat against the dollar at 1.3787.
Versus the euro, it was down around…