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TWF Daily Currency Update 21/04/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Apr 21, 2020.

Do you sell internationally?

  1. Yes

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  2. No

    0 vote(s)
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  1. Currencies Direct

    Currencies Direct

    Joined:
    Feb 6, 2020
    Messages:
    57
    EXCLUSIVE OFFER FOR TWF: Create an account with Currencies Direct and receive a £30 Amazon voucher when you trade £5000!

    TWF Daily Update 21/04/20

    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)
    Concerns that the UK’s lockdown could be protracted kept the pound under pressure on Monday. However, Sterling found some support this morning as the UK’s unemployment data revealed that fewer people applied for unemployment benefits in March than expected.

    GBP/EUR – Trading at 1.14

    GBP/USD – Fluctuating around 1.24
    • Euro (EUR)
    Ongoing concerns about disunity in the EU kept the euro under pressure at the start of the week. The common currency also struggled as the US dollar surged once again.

    EUR/GBP – Trading at 0.87

    EUR/USD – Holding at 1.08
    • US dollar (USD)
    Tumbling oil prices pushed the US dollar higher at the start of the week. Safe-haven demand could keep USD exchange rates elevated today.

    USD/GBP – Fluctuating around 0.80

    USD/EUR – Up to 0.92
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