FX and COVID19

Date: 21/04/2020
Author: GMCC
Company: GMCC

Sterling decreased on Monday 20th April as the death toll from COVID-19 increased and officials said it was too soon to talk about easing the lockdown implemented to stop the virus spreading further. Sterling fell 0.3% against both the dollar and the euro, trading last at $1.2468 and at 87.16 pence respectively (source Reuters).

FX management is a cornerstone for many businesses’ international plans. With 2020 shaping up to be a volatile year, bookended by two key Brexit milestones and the COVID-19 crisis currently taking centre stage, it is important for businesses to manage their exposure to currency effectively.

Chamber partner AFEX wants to extend their help and support to any businesses impacted by COVID-19 and beyond. Their door is open for anyone to contact them with any questions you may have or simply ask a question about the current currency market. Please contact exportbritain@gmchamber.co.uk.