Breaking: GBP/USD soars above 1.37, hits highest since 2018

GBP/USD has jumped above 1.37, 

The British pound has been benefiting from Britain's rapid vaccination campaign and also from a gradual decrease in COVID-19 cases. 

On the other side of the pond, the safe-haven US dollar has been under pressure amid optimism related to the incoming administration's vast stimulus plans. Joe Biden is scheduled to be inaugurated as President at 17:00 GMT. Treasury Secretary nominee Janet Yellen emphasized the need for more government support and hinted that tax hikes are not imminent.