* Graphic: World FX rates in 2020 http://tmsnrt.rs/2egbfVh
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv
LONDON, April 6 (Reuters) - Sterling slipped on Tuesday and
was on track for its worst day against the euro in five weeks as
investors took some cash off the table, while continuing to bet
on a speedy re-opening of the British economy.
Expectations of a UK economic rebound, spurred by a rapid
COVID-19 vaccination program, have just helped sterling to
record its best quarter since 2015 versus the single currency.
But as traders returned from the long Easter weekend, the
pound fell as much as 0.7% to 85.51 pence versus the euro at
1440 GMT, putting it on track for its worst session since Feb.
25.
Sterling also fell 0.5% against the dollar to $1.3844, after
earlier touching $1.3919, its highest since March 19.
"It is the re-opening of London this morning that is seeing
sterling under some initial pressure, as sellers have returned
and taken advantage of the rally seen over the last 24 hours or
so," said Stuart Cole, chief macro strategist at Equiti Capital
in London.
Cole added the selling appeared to be a mixture of
profit-taking and new short positions being initiated.
On Monday, the pound recorded its best day against a
weakening dollar since Feb. 18, as U.S. Treasury yields held
below recent highs. Low liquidity, with many parts of the world
off for the Easter break, was seen exaggerating moves.
Market participants continued to expect further gains for
the pound in the months ahead.
With the vaccine program rolling out rapidly across
Britain and infection numbers falling, Prime Minister Boris
Johnson confirmed on Monday a planned re-opening of the economy
would take place next week.
Shops, gyms, hairdressers and outdoor hospitality areas in
England will re-open. The government is also looking at a
COVID-status certification system, or vaccine passport, to help
re-open larger events.
Britain will begin the rollout of Moderna's COVID-19 vaccine
in mid-April, vaccine deployment minister Nadhim Zahawi said on
Tuesday, adding the inoculation program was on track to meet
government targets.
Some 12 million second doses are planned to be distributed
in April.
Johnson also said on Monday his government hoped
non-essential international travel would resume from May 17.
(Reporting by Joice Alves; Editing by Larry King and Mark
Potter)