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TWF Daily Currency Update 02/04/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Apr 2, 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 before June 30th! https://www.currenciesdirect.com/twf

    TWF Daily Currency Update 02/04/2020

    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 yesterday despite a sharp increase in the UK’s coronavirus death toll. GBP has extended those gains this morning with Sterling pushing higher against currencies including the euro, US dollar and Australia dollar.

    GBP/EUR – Up to 1.13

    GBP/USD – Rallied to 1.24
    • Euro (EUR)
    The euro came under selling pressure yesterday as concerns about the impact of the coronavirus crisis on the Eurozone’s economic outlook grew.

    EUR/GBP – Down to 0.87

    EUR/USD – Trading at 1.09
    • US dollar (USD)
    Increased demand for safe-haven currencies bolstered the US dollar on Wednesday. However, USD exchange rates could come under pressure later today if the US records another substantial increase in unemployment.

    USD/GBP – Trading at 0.80

    USD/EUR – Fluctuating around 0.91
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