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US Economy Suffers Largest Contraction Since 2008

  • 30 April 2020

The pound suffered from a lack of sentiment on Wednesday and so, it was put on the defensive again as Brexit uncertainty caused further problems. Foreign Secretary Dominic Raab made it clear that the government had plans to extend the…

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Grim Economic Outlook Causes the Pound to Drop

  • 22 April 2020

Tuesday was not one of the best days for the Pound as the currency experienced a sharp fall. This came after the Bank of England chief economist Andy Haldane commented on how GDP is likely to shrink during the first…

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Brexit Concerns Cause Pound to Weaken

  • 17 April 2020

On Thursday, the Pound was still under mounting pressure after the government confirmed the lockdown would remain in place for another three weeks. Along with this, the UK government also confirmed that they would refuse any form of an extension…

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Growth Concerns Cause Sterling to Weaken

  • 15 April 2020

As the lockdown measures in the UK look to remain in place for the foreseeable future, Sterling reached one-week highs against the dollar and the euro on Tuesday. The pound ended the day at 1.1493 against the euro and 1.26…

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EU Talks Fail to Progress as Pound Gains Ground

  • 9 April 2020

The Pound gathered momentum on Wednesday as the currency gained ground against the Euro as the Foreign Exchange rate came in at 1.14 while it ended at 1.24 against the Dollar. The Sterling has benefited from the news that PM…

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Three Week High for Sterling Against EuroThe Pound hit a three week high against the Euro on Thursday as it reached a high of 1.14 at the close. This rise in the Foreign Exchange rate was down to the single currency suffering due to the coronavirus. However, Sterling was also pushed forward as a result of risk sentiment improving following an increase in oil prices. However, this morning, Sterling has started the day in a weaker position against the dollar as it finished Thursday on 1.2397. There still remains a lot of uncertainty around the way in which the European Union is responding to Coronavirus. This has caused the currency to weaken further against the pound. Along with this, there have been budgetary disagreements and that has caused investors to feel uneasy about the way in which the European monetary policy will move. However, further pressure was mounted on the Euro as the long term lows were seen throughout French, Italian, German and Eurozone-wide services and composite PMI figures. Jobless claims came in at a record high on Thursday in the US but the Dollar still remained strong as it rose against many currencies for a second day. Investors are now looking for safety in the greenback as they prepare for a global recession. Click here to view live market rates

  • 3 April 2020

The Pound hit a three week high against the Euro on Thursday as it reached a high of 1.14 at the close. This rise in the Foreign Exchange rate was down to the single currency suffering due to the coronavirus.…

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