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Daily Currency Update 16/04/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Apr 16, 2020.

Do you sell internationally?

  1. Yes

    0 vote(s)
  2. No

    0 vote(s)
  1. Currencies Direct

    Currencies Direct

    Feb 6, 2020
    EXCLUSIVE OFFER FOR TWF: Create an account with Currencies Direct and receive a £30 Amazon voucher when you trade £5000!

    TWF Daily Update 16/04/20

    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 drifted lower yesterday amid renewed concerns over the coronavirus crisis. Worries that UK cases are being significantly under reported could keep the pound on the back foot today as the government prepares to announce its decision regarding extending the UK lockdown.

    GBP/EUR – Trading at 1.14

    GBP/USD – Fluctuating around 1.24

    • Euro (EUR)
    The euro pushed higher as non-essential shops in Italy, Spain and Austria began to reopen, adding to optimism that life in the Eurozone will start to take tentative steps towards normality.

    EUR/GBP – Up to 0.87

    EUR/USD – Trading around 1.08

    • US dollar (USD)
    Plummeting oil prices and declining risk appetite bolstered the US dollar yesterday, with the currency storming higher despite a record contraction in retail sales. However, USD exchange rates could come under pressure if US jobless claims surge again.

    USD/GBP – Trading at 0.80

    USD/EUR – Fluctuating around 0.91

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