The pound was given a small but much-needed boost yesterday and is still stronger this morning. The Bank of England affirmed that they would be willing to take further action to limit the economic fallout from the coronavirus crisis.
The European Central Bank released its monthly economic bulletin, revising GDP growth forecasts down to 0.8% and warning of only ‘modest recovery’ ahead after the coronavirus crisis.
The dollar was down against the pound yesterday after poor economic data, with jobless claims hitting a record high and concerns over the spread of coronavirus throughout North America.
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