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TWF Currency Update: 28/04/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Apr 28, 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 Currency Update: 28/04/2020

    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 pushed higher at the start of the week as investors were cheered by the news that PM Boris Johnson had returned to work. However, gains were capped by concerns that the UK’s lockdown could extend for a protracted period.

    GBP/EUR – Trading at 1.14
    GBP/USD – Fluctuating around 1.24

    • Euro (EUR)
    The euro benefited at the start of the week from reports that countries including Spain, Italy and France are looking at ways to ease their lockdown measures in May. Concerning French employment data did take some of the wind out of the euro’s sales, but the currency still closed the day higher.

    EUR/GBP – Trading at 0.87
    EUR/USD – Holding at 1.08

    • US dollar (USD)
    Rising risk appetite pushed investors away from the US dollar on Monday, with the safe-haven currency drifting lower against several of its peers.

    USD/GBP – Fluctuating around 0.80
    USD/EUR – Trading at 0.92

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