Market Update

Sterling fell below $1.22 in early trading to its lowest level in more than five weeks as the combination of a stronger dollar and weak UK economic data hurt the British currency.

The dollar rose against a basket of comparable currencies on Wednesday after Federal Reserve Chair Jerome Powell squashed growing speculation about negative interest rates in the United States. It held below a three-week high.

Versus the euro, the pound hit a six-week low on Wednesday and held close to these levels on Thursday morning, last at 88.58 pence per euro.

Britain is in talks with Swiss drug maker Roche Holding AG on rolling out an accurate COVID-19 antibody test that it said could be a ‘game changer’ on getting the world’s fifth largest economy back to work.

The novel coronavirus, which emerged in China, has propelled the world towards the sharpest recession in centuries with many people isolating at home as governments grapple with one of the biggest health crises since the 1918 influenza epidemic.

The British government said it was talking with Roche on rolling out its test after a Public Health England laboratory at Porton Down, in Wiltshire, concluded it had 100% specificity. That means it can detect antibodies to the exact disease rather than similar ones.

Leave a Reply

Your email address will not be published.

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 Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers