{"id":97483,"date":"2020-03-13T04:00:57","date_gmt":"2020-03-13T08:00:57","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97483"},"modified":"2020-03-13T04:24:59","modified_gmt":"2020-03-13T08:24:59","slug":"102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\/","title":{"rendered":"GBP\/USD: Pound Attempts Recovery After Dropping 1.9%"},"content":{"rendered":"

Amid broad risk aversion on coronavirus fears the Pound<\/a> US Dollar<\/a> exchange rate is posting mild losses of 0.2% in early trade on Friday. Tis comes after sterling dived just shy of 2% in the previous session hitting a five-month low of US$1.2492.<\/p>\n

At 06:30 UTC, today, GBP\/USD<\/a> is trading -21 points (-0.16%) at US$1.2551<\/p>\n

Pound Tries To Rebound From Thursday\u2019s Heavy Losses<\/h2>\n

The Pound continues to trade around five-month lows as the UK moves to the second stage in its response to coronavirus<\/a>. With the widespread outbreak of the killer virus, Prime Minister Boris Johnson declared it the worst health crisis in a generation.<\/p>\n

The UK will move to the next stage in its response to the virus, the delay phase. This stage is to help delay the spread of coronavirus. The phase could include social distancing steps. Although Boris Johnson has been criticised for not taking more draconian steps such as closing schools and banning large public meetings such as football games.<\/p>\n

However, the move took the UK a step closer towards the supply \/ demand shock that is coming. Fear ripped through the markets dragging the US stock market almost 11% lower, in its worst day of losses since 1987 Black Monday crash.<\/p>\n

EU talks next week have been delayed, pressurising an already tight timetable. This is unnerving investors.<\/p>\n

US Dollar Rises As Investors Flock To Safety<\/h2>\n

The US Dollar soared across the board in the previous session and is on the front foot again this morning as investors sought its safe haven properties. There was carnage on the US stocks markets which saw stocks fall 10%.<\/p>\n

In response to the increasingly dysfunctional markets, the Federal Reserve Bank of New York stepped in with a massive liquidity injection in an attempt to bring some calm. The bank announced a $1.5 trillion liquidity injection and wider Treasury purchases.<\/p>\n

Investors are now looking ahead to next week\u2019s Federal Reserve monetary policy meeting. There is growing speculation that the Fed could cut rates by a full 100 basis points rather than staggering the cut 50 basis points now and 50 in April. There is also growing speculation that the Fed will formally announce a bond buying programme. With fiscal stimulus still some way off, the markets will be looking at the Fed to act.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid broad risk aversion on coronavirus fears the Pound US Dollar exchange rate is posting mild losses of 0.2% in early trade on Friday. Tis comes after sterling dived just shy of 2% in the previous session hitting a five-month low of US$1.2492. At 06:30 UTC, today, GBP\/USD is trading -21 points (-0.16%) at US$1.2551 […]<\/p>\n","protected":false},"author":163946597,"featured_media":5575,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1396,2139,1438,1394,1391,1392,1397,1398],"class_list":{"0":"post-97483","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-boris-johnson","10":"tag-coronavirus","11":"tag-federal-reserve","12":"tag-gbp","13":"tag-pound","14":"tag-sterling","15":"tag-us-dollar","16":"tag-usd"},"acf":[],"yoast_head":"\nGBP\/USD: Pound Attempts Recovery After Dropping 1.9% - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Attempts Recovery After Dropping 1.9%\",\"datePublished\":\"2020-03-13T08:00:57+00:00\",\"dateModified\":\"2020-03-13T08:24:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\\\/\"},\"wordCount\":383,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100627-gbp-usd-fed-rate-decision.jpg\",\"keywords\":[\"boris johnson\",\"coronavirus\",\"federal reserve\",\"gbp\",\"pound\",\"sterling\",\"us dollar\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102677-gbp-usd-pound-attempts-recovery-after-dropping-1-9\\\/\",\"name\":\"GBP\\\/USD: Pound Attempts Recovery After Dropping 1.9% - 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