Mix yeast and 1 teaspoon sugar; set aside. In a large bowl, mix the remaining sugar (1 tablespoon plus 2 teaspoons), the flour, salt, nutmeg, and cinnamon. Cut in the butter. Heat milk (120F to 130F); add to yeast mixture and stir to dissolve. Add to flour mixture with eggs and beat with mixer until batter is stiff but elastic. Mix in raisins, currants, and peel. Turn into a well greased 8 inch round cake pan or 2 quart round casserole. Cover; let rise in warm, draft-free place until dough is 1 ½ to 2 inches above rim of pan or casserole, 1 to 2 hours. Brush with reserved egg. Bake in a 400 degree oven 45 minutes to 1 hour or until loaf sounds hollow when lightly tapped. Turn out on rack. Cool slightly and serve warm.