Another day, another huge Sterling sell-off

Hi everyone,

The Pound is on course to test record lows in the coming weeks against many of its rivals. Already £-$ rates have gone below 1.20 for only the second time in 34-years and £-€ rates are just 1% away from a 10-year low. This is now officially the worst sustained period of Sterling selling seen on the market.

There was a boost yesterday after the Chancellor of the Exchequer provided a fiscal 'bazooka' to the UK's economy with £330bn being made available. But today has seen an incredible 2% wiped off the Pounds value since opening. A vast mixture of things have put severe pressure on Sterling and it's hard to see where it ends.

Global stocks continue to fall, foreign investment is leaving the UK and traders are nervous how companies and the UK as a whole will deal with the coronavirus in the days/weeks ahead. Analysts are now predicting the outbreak to take Sterling places, not even the hardest form of Brexit would have taken it.



 

 

 

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Thursday, 19th March, 2020


10:00 EU - Euro-Zone construction output
12:30 US - Jobless claims


Friday, 20th March, 2020

 
09:30 UK - Inflation review
14:00 US - Existing home sales
  

 
 
 



Dan Waterman
Sales Director

 
 
 


 

 
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