Pound up on reversal of panic
The Pound has climbed back up to 3-week highs against the Euro and Dollar.
It’s more a reversal of the panic selling than a shift in fundamentals.
In times of crisis, the Pound tends to get hit harder than currencies perceived to be safer, such as the US Dollar, Euro and Swiss Franc.
The recovery is far from convincing.
At present, the Pound is at the mercy of rotations between hope and fear.
One further implication of coronavirus is that it’s likely the Brexit transition period will be extended.
Both Boris Johnson and the EU’s chief negotiator, Michel Barnier, currently have coronavirus.
Without a doubt, it’s highly uncertain times for individuals and businesses.
If you have a currency requirement or are just worried about your foreign exchange exposure, please do get in touch.
We are Open as Usual
Our banking and payment systems are operating as normal.
We will also remain open over the Easter period – including Good Friday and Easter Monday.
To speak to a trader today, call 01872 487 500.
Or to find out current exchange rates, request a quote below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Monday 6th April 2020 at 09:15
£1.00 GBP = 1.1378 EURO
£1.00 GBP = 1.2296 USD
£1.00 GBP = 2.0330 AUD
£1.00 GBP = 2.0827 NZD
£1.00 GBP = 1.7371 CAD
£1.00 GBP = 23.4738 ZAR
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