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UK market, currency rally on optimism that vaccines will return economy to normality

Analysts expect FTSE 100 index to rise a further 16 per cent by the middle of 2021 despite sizeable business losses and rising unemployment

Published Sun, Nov 29, 2020 · 09:50 PM

Brexit

London

FOREIGN exchange and equity market participants appear to be in denial about an over-borrowed UK economy that is experiencing the worst depression in three centuries.

Since the start of November, vaccination optimism has caused the FTSE100 index to jump by 17 per cent. The pound has also defied the currency bears and has rallied by 4 per cent against the US dollar.