{"id":97524,"date":"2020-03-13T10:33:50","date_gmt":"2020-03-13T14:33:50","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97524"},"modified":"2020-03-13T11:13:34","modified_gmt":"2020-03-13T15:13:34","slug":"102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\/","title":{"rendered":"GBP\/USD: Pound Slips Below $1.25 As Dollar Surges"},"content":{"rendered":"

The Pound<\/a> US Dollar<\/a> exchange rate has tumbled through the key psychological level of US$1.25 to a fresh 5 month low, as the dollar surges.<\/p>\n

At 14:00 UTC, GBP\/USD<\/a> is trading -0.6% (76 points) lower at US$1.2498, after hitting a nadir of US$1.2454.<\/p>\n

Pound Skids Lower Post BoE Minutes<\/h2>\n

The Pound is trending lower following the release of the minutes from the unscheduled Bank of England meeting. This was the meeting in which the BoE slashed interest rates by 0.5%. The central bank said that hey expected coronavirus to negatively impact the economy but were unsure to what extent. This will become clearer over the coming weeks and months. The BoE also said that they could cut interest rates again. \u00a0The prospect of further easing sent the pound lower.<\/p>\n

US Dollar Rallies As Sentiment Improves<\/h2>\n

Central banks across the globe has stepped up their response to the coronavirus headwinds facing the economies. The Federal Reserve, the Bank of Japan, the Reserve Bank of Australia are just three of the central banks that put measures into place to prop up their economies. The coordinated approach and the hope of additional fiscal stimulus is lifting sentiment across the financial markets.<\/p>\n

As investors are once again buying into risk, safe haven US treasury bonds are out of favour and treasury yields, rising boosting the appeal of the dollar.<\/p>\n

The Greenback is also finding support from consumer sentiment data. The University of Michigan consumer confidence report showed that morale slipped to 95.9. This was better than the 95 figure that analysts forecast. The figure is for March, so it reveals the initial impact of coronavirus, which was not a bad a forecast. Consumer sentiment had been up at 101 in February, the second highest level since the financial crisis.<\/p>\n

Consumer confidence is expected to be lower at the next reading in April given that schools and large scale meetings are now being closed or banned.<\/p>\n

There is no more US data due for release. Investors will keep monitoring the coronavirus situation and look ahead to the Federal Reserve monetary policy meeting next week.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Pound US Dollar exchange rate has tumbled through the key psychological level of US$1.25 to a fresh 5 month low, as the dollar surges. At 14:00 UTC, GBP\/USD is trading -0.6% (76 points) lower at US$1.2498, after hitting a nadir of US$1.2454. Pound Skids Lower Post BoE Minutes The Pound is trending lower following […]<\/p>\n","protected":false},"author":163946597,"featured_media":5647,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1439,2437,1438,1394,1398],"class_list":{"0":"post-97524","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-boe","10":"tag-coronvirus","11":"tag-federal-reserve","12":"tag-gbp","13":"tag-usd"},"acf":[],"yoast_head":"\nGBP\/USD: Pound Slips Below $1.25 As Dollar Surges - 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\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\/\" \/>\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\\\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Slips Below $1.25 As Dollar Surges\",\"datePublished\":\"2020-03-13T14:33:50+00:00\",\"dateModified\":\"2020-03-13T15:13:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\\\/\"},\"wordCount\":352,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"keywords\":[\"boe\",\"coronvirus\",\"federal reserve\",\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102686-gbp-usd-pound-slips-below-1-25-as-dollar-surges\\\/\",\"name\":\"GBP\\\/USD: Pound Slips Below $1.25 As Dollar Surges - 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