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TWF Daily Currency Update 07/04/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Apr 7, 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 Update 07/04/2020

    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 had a patchy start to the week as UK consumer sentiment plummeted and investors reacted to the news that PM Boris Johnson had been moved to intensive care.

    Sterling has stabilised against the euro this morning and has managed to gain on a broadly weakening US dollar.

    GBP/EUR – Trading at 1.13

    GBP/USD – Fluctuating around 1.23
    • Euro (EUR)
    The euro came under pressure on Monday as German factory orders declined. A separate report published on Tuesday also registered a dip in industrial production. EUR investors are currently focused on the Eurozone’s response to the economic impact of the coronavirus. Signs of discord would be euro-negative.

    EUR/GBP – Trading at 0.88

    EUR/USD – Trending around 1.08

    • US dollar (USD)
    A declining number of coronavirus fatalities and infections in Europe bolstered demand for higher-risk currencies at the start of the week, sending the US dollar lower in the process.

    USD/GBP – Trading at 0.81

    USD/EUR – Trading around 0.91

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