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Sterling Falls to 12-Day Low as Dollar Strength Dominates


Tuesday, 21 April 2020 18:49 WIB

poundSterling,Poundsterling


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The pound fell to its lowest in almost two weeks on Tuesday against both the dollar and the euro as investors sought safe haven currencies following a crash in oil prices.

U.S. oil futures turned negative for the first time ever on Monday, causing the dollar to rise to near two-week highs against a basket of assets as investors shunned riskier assets.

The data was based on the situation on March 12, 11 days before the government declared the lockdown that has paralysed much of Britain's economy, limiting its impact on the economic outlook.

Versus the dollar, the pound was down 0.93% at $1.2315, its lowest in 13 days . Versus the euro it was last down around half a percent, at 87.95 pence per euro .

Source : Reuters


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