Grease a 1kg loaf tin with butter.
Heat saffron and milk in a pan until yellow and almost simmering.
Combine flour, yeast, salt, and nutmeg in a bowl.
Rub butter and sugar into the flour until the mixture looks like breadcrumbs.
Incorporate the currants and candied peel.
Stir in the saffron milk to form a soft dough.
Knead the dough on a floured surface until smooth.
Place dough in the tin, cover, and let rise in a warm spot for 30-45 minutes.
Preheat the oven to 180°C.
Bake for 45 to 60 minutes until pale golden-brown.
Cool slightly, then slice and serve with clotted cream.