The dollar continued to perform strongly across the board yesterday, hitting multi-year highs against a range of currencies. The greenback is benefitting from its safe haven status during this time of crisis.
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The euro was weak yesterday against the dollar but stronger against the pound, after the ECB reassured markets that it would back Italy’s government by intervening in Italian debt markets via Italy’s central bank.
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The pound weakened to its lowest level against the dollar since 1985 yesterday and was also weak against the euro. New Bank of England Governor, Andrew Bailey, has said that the Bank is watching sterling very closely and…
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The pound weakened to a 35 year low against the dollar and to its weakest level against the euro since 2009. New Bank of England Governor, Andrew Bailey, said that there is no “single story” to sterling’s decline.
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After two weeks of relentless falls it was heartening to see the pound ending Tuesday more or less where it began the day. It’s certainly a good time to be changing money back to sterling, with the best…
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The dollar strengthened against the pound yesterday, benefitting from sterling weakness and its safe haven appeal. The latest greenback strength has been reinforced by funding market distress.
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Despite starting the week in a fairly strong position, the euro weakened yesterday after the German ZEW survey was released. This is the first survey that accounts for the impact of the coronavirus on the German economy.
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Sterling fell to fresh 6-month lows against the dollar yesterday, erasing gains made in the second half of 2019. However, it recovered slightly in the wake of the Downing Street press conference.
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