A Steady Day For The Pound As The US Dollar Fluctuates

The Pound showed very little movement during trading on Thursday as concerns over increasing coronavirus cases as well as Brexit worries caused investors to sit tight. This saw the currency end the day at 1.1167 against the Euro and 1.3197 against the US Dollar.  How the Pound performs on the Foreign Exchange Market today is very much down to how the speech from Andrew Bailey, the Bank of England Governor goes. If negative interest rates become a possibility then that could weigh heavily on the Pound.

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There was not much happening on Thursday when it came to the Euro as this also struggled to gain any traction as coronavirus concerns still cause problems. This came after the World Health Organisation indicated that the virus was rising in 32 areas of Europe. The latest economic sentiment index will be published today and that will determine the direction that the Euro moves in.

The US Dollar moved higher yesterday after it was announced that the Federal Reserve would allow inflation to move higher. This saw the greenback drop against many peers although rates soon improved after it was hinted that more financial easing was likely to happen.

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