P-O Life receives a small commission from Currencies Direct when readers use them for their money exchange. This goes towards maintenance and upkeep of the site, not on beer and wine as those who know me might suspect! 🙂 Thanks for your support.

Pound pushes to highest level in over a month.  

The pound pushed to its highest levels in over a month on Tuesday, extending gains from before the Easter weekend.

GBP/EUR has risen to €1.1488, with GBP/USD trading at $1.2556. GBP/CAD has edged up to C$1.7425, while GBP/AUD and GBP/NZD are trading flatly at AU$1.9596 and NZ$2.0551 respectively.

Looking ahead, the coronavirus crisis will remain the main catalyst for market movement this week.

What’s been happening?

Sterling got off to a strong start to the week, with the currency deriving some support from the news that PM Boris Johnson left hospital after spending time in intensive care with coronavirus.

A general improvement in risk appetite also bolstered GBP exchange rates.

The euro, meanwhile, has ticked higher on speculation that Eurozone finance leaders are closing in on a deal to support the currency bloc through the coronavirus.

The common currency also benefited from the news that countries like Austria are starting to ease their lockdowns and restart their economies.

The US dollar hasn’t been faring so well however, with the safe-haven currency sliding in the face of rising risk appetite.

Ongoing concerns about the spread of the coronavirus in the US have also weighed on USD exchange rates, with cases exceeding 550,000 and deaths standing at more than 23,000.

What’s coming up?

With little data due for release today traders will remain focused on the coronavirus pandemic.

That being said, GBP investors will also be looking ahead to tomorrow’s Brexit phone call, with UK and EU negotiators set to discuss the timetable for the next round of negotiations.

EUR exchange rates could extend gains this week as long as reports continue indicating that the outbreak may have peaked in the European countries worst hit by the virus.

The US dollar may come under additional pressure this afternoon following the publication of the US consumer price index.

The report is expected to show a decline in inflationary pressure.

We’re here to talk currency whenever you need us, so get in touch if you want to know more about the latest news or how it could impact your currency transfers.



Selling Your Property in France?

One key benefit for those who are selling and moving away from France is that Currencies Direct holds a euro account here in France. This makes life so much easier for anyone selling! You register with Currencies Direct, receive your CD account number and the RIB for their Paris based Euro account, which you pass on to your Notaire as your instruction for onforwarding of sale proceeds.

Currencies Direct receive the euros, convert at the agreed exchange rate and forward on to their destination bank account – wherever they are in the world. Simple, easy and very efficient…

Currencies Direct cite the example of a lady who has recently moved back to the UK – her funds are stuck in her French bank account who are insisting that she visits the branch in person to close her account but she is unwell and unable to travel.

Leave a Comment