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US Economy Suffers Largest Contraction Since 2008

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 Brexit transition period, causing problems

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Euro Rate Slips Although Pound Does Make Some Gains

The Pound made some slight gains on Thursday after the currency reacted to the possibility that the peak of the Coronavirus had been reached. However, it wasn’t all good as any gains was restrained by the news that the private sector experienced a deeper slump

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Grim Economic Outlook Causes the Pound to Drop

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 quarter and that it is

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Struggles For the Euro While the Pound Steadies Itself

The Pound didn’t start the week off in particularly good form on Monday as the currency experienced broad losses. This came as reports filtered through that reducing the lockdown restriction is not a popular move with the UK government. The news came through that Boris

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Brexit Concerns Cause Pound to Weaken

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 to the Brexit transition period.

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Growth Concerns Cause Sterling to Weaken

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 against the dollar according to

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EU Talks Fail to Progress as Pound Gains Ground

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 Boris Johnson is improving and

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Three Week High for Sterling Against Euro

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. However, Sterling was also pushed

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Worst Week in Ten Years for the US Dollar

On Friday 27th March the Pound continued its journey of a resurgence at the end of last week as it reached 1.1177 against the Euro. As the US slumped, the foreign exchange rate for the pound against the dollar reached 1.2457. However, the pound did struggle

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Huge Push For The Pound Amid Weakening US Dollar

On Thursday, the Pound grew in strength to a high of 1.23, as the US dollar weakened, while sterling had all the characteristics of a risk-sensitive currency. The Bank of England decided to leave interest rates where they are but there are still concerns over

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Lockdown Measures Help Pound to Strengthen

Following the new quarantine measures, the pound strengthened yesterday, as markets hope that the new measures help to curb Covid-19. Despite the latest PMI figures in the UK showing that the private sector had really taken a knock, Sterling currency rocketed. However, it is likely

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COMPANY UPDATE: Two-Factor Authentication

Due to new regulations, two-factor authentication (or 2FA) is being implemented as an extra layer of security when accessing the online platform.  This new feature will be mandatory from the 13th April 2020. What is Two-Factor Authentication? Two-factor authentication (or 2FA) is an extra layer of security

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Global Economy is Suffering Because of Covid-19

The pound had a fairly challenging day yesterday against the Euro and the Dollar. All of this was down to the way in which the virus was impacting the global economy. Despite that, Sterling has stabilised this morning although confidence in consumers has diminished in

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Action from the BoE leads to a stronger Pound

As the Bank of England (BoE) made the second round of emergency cuts to interest rates, it resulted in the strengthening of the pound against both the euro and dollar. Quantitative easing also helped the situation, showing encouraging signs for international payments. The world of

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COMPANY UPDATE: COVID-19 Response

An update on our company’s response to the Coronavirus (COVID-19) outbreak. Helping your business to manage your foreign exchange and international payments, and delivering excellent customer service, are our top priorities.  Therefore, we are taking a number of measures to ensure that we are able

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