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Currencies Direct - Daily Currency Update

Discussion in 'E-Commerce and Online Selling' started by Currencies Direct, Mar 3, 2020.

Is currency management a relevant area in your business?

  1. Yes

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  2. No

    0 vote(s)
  1. Currencies Direct

    Currencies Direct

    Feb 6, 2020
    TWF Daily Currency Update: 03/03/2020

    Today’s e-commerce exchange rate update

    For online sellers paying suppliers in foreign currencies, or converting international revenue, exchange rate movements can have a significant impact on profitability – from increasing the cost of invoices to reducing the return on your payments.

    Stay on top of the latest rate movements in minutes with our daily rate alert.

    Pound Sterling (GBP)

    The pound was left on the back foot on Friday, undermined by growing fears the UK is on course for a no-deal Brexit.

    GBP/EUR – Dropped from 1.17 to 1.16

    GBP/USD – Touched a three-month low

    Euro (EUR)

    The euro rallied at the end of last week, buoyed by hints that Germany may soon implement some new fiscal stimulus measures.

    EUR/GBP – Up from 0.85 to 0.86

    EUR/USD – Up from 1.09 to 1.10

    US dollar (USD)

    The US dollar put on a mixed performance on Friday as elevated safe-haven demand amid the ongoing coronavirus crisis was offset by rising expectations for an immediate rate cut from the Federal Reserve.

    USD/GBP – Fluctuating around 0.77

    USD/EUR – Dropped from 0.91 to 0.90

    At Currencies Direct we’ve helped more than 325,000 customers save time and money on their currency transfers since 1996.

    If you’d like to find out more about the latest rate movements and how they could impact your international payments, contact our expert team or get a quote now.

    Call: 0207 847 9269 Email: (Email Hidden for Privacy)

    *All rates quoted are interbank. Please get in touch with us for a live trading rate.
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