Blog


31/03/2020 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • March 31, 2020
  • No Comments

Please find the exchange rates listed at the bottom of the article, the rates are for indication purposes only, for a live quote please contact us.

Sterling has recovered from considerable losses that it suffered from earlier in the month which coincided with the global effect that COVID-19 has placed on the world’s economy.

With the virus taking its toll on the UK with 14,000 cases and more than 1,000 deaths, it’s hard to currently see that reaching an agreement with the EU would be top of the Prime Ministers Priority list.

According to a statement released by the European Union on Monday, the UK-EU committee held their first telephone conference. In the conference, the EU warned the UK to set out what steps it will put in action to prevent a hard border in Ireland after Britain’s break from the Eurozone becomes official.

They met due to concerns that PM Boris Johnson is running out of time to strike a deal and will have to postpone the deadline due to growing fears that the pandemic has placed over the UK. However, the government had already ruled out extending the deadline beyond 31st December.

The US has now become the most affected country by Covid-19 with total cases surpassing 140,000. With this in mind, US economic releases will be highly looked at this week.

With highly market influencing pieces of data such as the Unemployment rate, Jobless claims and the highly volatile non-farm payrolls, if these key releases show a negative effect that the virus is having on the US then we will see investors pull their money from the US weakening their currency.

GBP/EUR 1.1227 GBP/USD 1.2330 GBP/AED 4.5181

GBP/AUD 2.0057 GBP/CHF 1.1889 GBP/CAD 1.7511

GBP/NZD 2.0548 EUR/USD 1.0967 GBP/ZAR 22.088

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd’s Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Manager. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). | Terms and Conditions | Privacy Statement | Careers