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TWF Daily Currency Update: 26/03/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Mar 26, 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: 26/03/2020

    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)
    After stabilising earlier in the week the pound gave up some of its gains ahead of the Bank of England’s (BoE) interest rate decision. Although the central bank has already issued two emergency rate cuts, the fact that it continuing with its meeting implies there could be further action ahead.

    GBP/EUR – Trading at 1.08
    GBP/USD – Brushing 1.20

    Euro (EUR)
    Disappointing German confidence data provided cause for concern yesterday but another decline in the number of fresh coronavirus infections in Italy prevented the euro from recording notable losses.

    EUR/GBP – Trading at 0.92
    EUR/USD – Up to 1.09

    US dollar (USD)
    The US dollar spent Wednesday recovering its recent losses, but the currency could come under pressure later if the latest US initial jobless claims report shows the surge in unemployment expected by economists.

    USD/GBP – Trading at 0.84
    USD/EUR – Fluctuating around 0.91
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