The Pound Sterling US Dollar (GBP/USD) exchange rate slumped and the pairing is currently trading at around $1.2331. August’s Producer Price Index (PPI) edged up by 0.1% despite forecasts expecting prices to remain unchanged. The US Dollar received an upswing of support this afternoon as data revealed US producer prices rose unexpectedly.Investors saw little reason to move much on the Pound to Euro (GBP/EUR) exchange rate this morning, as markets awaited the European Central Bank’s (ECB) September policy decision due this afternoon. Since opening this week at mixed levels, GBP/EUR has sustained solid gains of over a cent thanks to UK growth data and Brexit hopes. Overnight, GBP/EUR touched on a two month high of 1.1223 before slipping and trending closer to the key level of 1.1200 at the time of writing on Thursday. The ECB is expected to cut Eurozone rates during today’s decision, but market focus is on the tone the bank will take in regards to quantitative easing (QE) and the Eurozone’s economic outlook. A 'no-deal' Brexit could snarl cross-Channel trade routes, disrupting supplies of medicines and fresh food while protests spread across Britain, according to a worst-case scenario reluctantly released by the government on Wednesday.
The "Operation Yellowhammer" assumptions, prepared six weeks ago just days after Boris Johnson became prime minister, form the basis of government no-deal planning.
They were released at the demand of lawmakers who accuse Johnson's government of concealing the ruinous impact of leaving without a deal, and could add to the political acrimony as Britain lurches toward its Oct. 31 deadline to exit the EU.
28 Feb 2020 05:20 PM
The Indian rupee slipped against the dollar this month amid a broad decline in Asian currencies and equities, on growing alarm over the spread of the coronavirus beyond China and across the globe.
28 Feb 2020 04:37 PM
Indian shares sank on Friday for a sixth straight session, capping their worst week in more than a decade, over fears that the fast-spreading coronavirus outbreak could trigger a global recession.
28 Feb 2020 02:56 PM
The pound dropped on Friday, particularly against the euro, as worries about the fast-spreading coronavirus sent investors out of currencies deemed riskier.
28 Feb 2020 11:28 AM
The yuan eased on Friday, dragged by a massive global selloff in risk assets as investors panicked about the fast spread of the coronavirus, however, growing expectations of a U.S. rate cut slowed the Chinese currency's fall against the dollar.
28 Feb 2020 09:46 AM
Oil prices fell for a sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
28 Feb 2020 09:20 AM
The dollar nursed losses on Friday after its worst day against the euro in nearly two years, as the global spread of the coronavirus fired up expectations for a U.S. rate cut and pushed the hunt for yield elsewhere.