{"id":97807,"date":"2020-03-23T04:00:34","date_gmt":"2020-03-23T08:00:34","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97807"},"modified":"2020-03-23T07:45:35","modified_gmt":"2020-03-23T11:45:35","slug":"102765-gbp-usd-pound-extends-recovery-towards-1-17","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/","title":{"rendered":"GBP\/USD: Pound Extends Recovery Towards $1.17"},"content":{"rendered":"

In times of the worst panic, there is only one winner, the US Dollar<\/a>. Safe haven drives and funding distress sent the Pound<\/a> US Dollar exchange rate to the lowest level in 35 years last week at US$1.1409, before bouncing higher at the end of the week on extensive stimulus from the BoE, UK Government and central banks across the globe.<\/p>\n

The pair fell over 5% for the second consecutive week. However, the Pound is extending its recovery in early trade on Monday.<\/p>\n

At 06:45 UTC, GBP\/USD<\/a> is trading at US$1.1695, slightly off from the high of US$1.1715 reached overnight.<\/p>\n

Check real time GBP to USD exchange rate<\/span><\/a><\/div>\n

Pound Picks Up From 35 Year Low<\/h2>\n

The Pound tumbled 1800 pints versus the US Dollar over the past 10 days. Coronavirus events have developed at breakneck speed and volatility across the financial markets has been high. With the number of coronavirus cases and deaths increasing by the day, the potential economic impact grows.<\/p>\n

The BoE cut interest rates to a record low 0.1% and announced an additional \u00a3200 billion gilt purchases. The UK Chancellor has been working on new plans daily to cushion the UK economy, businesses and workers from the coronavirus fallout.<\/p>\n

As the government imposes stricter restrictions on the public, such as closing pubs, restaurants and gyms the economic impact becomes all the starker.<\/p>\n

Measures such as \u00a3330 billion rescue package and an unprecedented move to pay the wages of workers to prevent them being laid off are just two of the measures put forward by the Chancellor last week. This week the government could look to prop up the struggling airline British Airways and offer more help to the self-employed. The coordinated support from both BoE and UK Government is helping to underpin the Pound at the start of the new week.<\/p>\n

US Dollar Pulls Back Ahead Of Congress Vote<\/h2>\n

The Federal Reserve cut interest rates to zero at the start of last week, whilst also announcing $700 billion of new quantitative easing in an unscheduled move. Yet despite these huge easing moves by the Fed, the dollar surged thanks to its safe haven properties.<\/p>\n

Investors were selling out of everything to hold US Dollar cash, whilst businesses are hoarding dollars for fear of tougher times ahead. This move appears to be easing at the start of the new week as investors await a key vote in Congress over a \u00a31 trillion bailout package.<\/p>\n

The US is ramping up its response to coronavirus as the number of cases escalated sharply over the weekend,<\/p>\n

.<\/p>\n

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

In times of the worst panic, there is only one winner, the US Dollar. Safe haven drives and funding distress sent the Pound US Dollar exchange rate to the lowest level in 35 years last week at US$1.1409, before bouncing higher at the end of the week on extensive stimulus from the BoE, UK Government […]<\/p>\n","protected":false},"author":163946597,"featured_media":5567,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1439,2274,2139,1394,1391,2322,1397,1398],"class_list":["post-97807","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-boe","tag-congress","tag-coronavirus","tag-gbp","tag-pound","tag-rishi-sunak","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"\nGBP\/USD: Pound Extends Recovery Towards $1.17 - 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\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/\" \/>\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\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Extends Recovery Towards $1.17\",\"datePublished\":\"2020-03-23T08:00:34+00:00\",\"dateModified\":\"2020-03-23T11:45:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/\"},\"wordCount\":444,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100623-gbp-usd-investors-and-central-bank.jpg\",\"keywords\":[\"boe\",\"Congress\",\"coronavirus\",\"gbp\",\"pound\",\"Rishi Sunak\",\"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\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/\",\"name\":\"GBP\\\/USD: Pound Extends Recovery Towards $1.17 - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100623-gbp-usd-investors-and-central-bank.jpg\",\"datePublished\":\"2020-03-23T08:00:34+00:00\",\"dateModified\":\"2020-03-23T11:45:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100623-gbp-usd-investors-and-central-bank.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100623-gbp-usd-investors-and-central-bank.jpg\",\"width\":1200,\"height\":675,\"caption\":\"gbp-usd-coin-and-bank-note\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102765-gbp-usd-pound-extends-recovery-towards-1-17\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/USD: Pound Extends Recovery Towards $1.17\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/fiona-cincotta-bb4a4845\\\/\"],\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/fiona-cincotta\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/USD: Pound Extends Recovery Towards $1.17 - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"GBP\/USD: Pound Extends Recovery Towards $1.17","datePublished":"2020-03-23T08:00:34+00:00","dateModified":"2020-03-23T11:45:35+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/"},"wordCount":444,"image":{"@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100623-gbp-usd-investors-and-central-bank.jpg","keywords":["boe","Congress","coronavirus","gbp","pound","Rishi Sunak","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\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/","url":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/","name":"GBP\/USD: Pound Extends Recovery Towards $1.17 - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100623-gbp-usd-investors-and-central-bank.jpg","datePublished":"2020-03-23T08:00:34+00:00","dateModified":"2020-03-23T11:45:35+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100623-gbp-usd-investors-and-central-bank.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100623-gbp-usd-investors-and-central-bank.jpg","width":1200,"height":675,"caption":"gbp-usd-coin-and-bank-note"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/102765-gbp-usd-pound-extends-recovery-towards-1-17\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/USD: Pound Extends Recovery Towards $1.17"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec","name":"Fiona Cincotta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","caption":"Fiona Cincotta"},"description":"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.","sameAs":["https:\/\/www.linkedin.com\/in\/fiona-cincotta-bb4a4845\/"],"url":"https:\/\/currencylive.com\/news\/author\/fiona-cincotta\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100623-gbp-usd-investors-and-central-bank.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/97807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946597"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=97807"}],"version-history":[{"count":4,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/97807\/revisions"}],"predecessor-version":[{"id":97835,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/97807\/revisions\/97835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/5567"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=97807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=97807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=97807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}