Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Pound Resumes Rally as Traders Continue to Digest Covid-19 Pandemic

Published 03/25/2020, 02:40 PM
Updated 03/25/2020, 02:44 PM
© Reuters.

© Reuters.

By Yasin Ebrahim 

Investing.com – The pound cut losses to resume its rally against the dollar on Wednesday as investors continued to digest the impact of U.K. government's measures to contain the Covid-19 pandemic.

GBP/USD rose 0.96% to $1.1869, after swinging between gains and losses between $1.1640 and $1.1974.

The wild swings in the pound have been driven by expectations over the potential severity of the coronavirus outbreak, which has killed about 437 in the country so far, and more than 20,000 globally.

The Covid-19 pandemic overshadowed a raft of positive data, including better-than-expected consumer inflation data.

The rally in cable was also helped by a plunge in the dollar, which has remained offered following the Federal Reserve move to expand its quantitative easing program to avert a financial crisis in markets.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.