DJIA24465.16
LIVE0(0.00%)
NDX9413.99
LIVE0(0.00%)

Sterling Steadies as Dollar Surges on Global Recession Angst


Wednesday, 1 April 2020 23:42 WIB

poundSterling,Poundsterlingpoundeurosterlingdolar


c_740_198_16777215_00_images_assets_CURRENCY2_1pound.jpg

Sterling steadied against a buoyant dollar on Wednesday amid a wider selloff in global stock markets as data showed factory activity across the world contracting sharply due to the coronavirus pandemic.

Manufacturing gauges tumbled across the globe, with Purchasing Managers' Index (PMI) surveys in Asia, the euro zone and the UK underscoring the widening damage wrought by the pandemic that has infected more than 700,000 people, upended supply chains and led to city lockdowns worldwide.

Data showed output from Britain's manufacturing sector shrank at the fastest pace since the euro zone debt crisis in March as the spread of coronavirus led to spiralling delays and hammered business confidence.

By 14:49 GMT, the pound traded flat to the dollar at $1.2420., reversing losses made earlier in the day. It jumped 1% against a broadly weaker euro to trade at 87.92 pence.

Source : Reuters


RELATED NEWS

  • The dollar rose on Friday in overnight trading and extended its gains in early London trading, after U.S.-China tensions boosted demand for safe-haven currencies. U.S. President Donald Trump said tha...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.