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Currencies Direct - Daily Currency Update

Discussion in 'E-Commerce and Online Selling' started by Currencies Direct, Mar 4, 2020.

Is currency management a relevant area in your business?

  1. Yes

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  1. Currencies Direct

    Currencies Direct

    Feb 6, 2020
    TWF Daily Currency Update: 04/03/2020

    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)

    Sterling edged higher yesterday thanks to some comforting comments from Bank of England (BoE) Governor Mark Carney and better-than-forecast UK construction data.

    However, today’s UK services PMI came in slightly below initial forecasts.

    GBP/EUR – Edges down to 1.14

    GBP/USD – Down 0.3% to 1.27

    Euro (EUR)

    The euro was putting in a mixed performance ahead of the release of the Eurozone’s latest retail sales figures, with EUR/GBP edging higher but EUR/USD recording modest losses. Upbeat consumer spending could give EUR exchange rates a boost.

    EUR/GBP – Trading at 0.87

    EUR/USD – Holding 1.11

    US dollar (USD)

    A shock rate cut from the Federal Reserve weakened the US dollar yesterday. The Fed cut rates two weeks before its next scheduled meeting to protect the US from the impact of the coronavirus.

    USD/GBP – Trading at 0.78

    USD/EUR – Holding at 0.89

    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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