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February 15, 2021 - Written by John Cameron GBP/JPY Exchange Rate Heads Higher as Japanese Economy Struggles with Covid-19 The Pound to Japanese Yen rose by 0.6% today after the UK hit its target of 15-million vaccinations over the weekend. The pairing is currently fluctuating around ¥146.32. The Japanese Yen suffered today following news that the Japanese economy had shrunk by -4.8% in 2020 because of Covid-19. Takumi Tsunoda, senior economist at Shinkin Central Bank Research, told Reuters: ‘The conditions are such that Japan will not be able to avoid negative growth in the first quarter....

GBP/EUR Exchange Rate Heads Higher as the Outlook for the Eurozone’s Economy Darkens The Pound to Euro (GBP/EUR) exchange rate rose by 0.3% today, with the pairing currently trading around $1.108. The Euro (EUR) suffered today after the latest Eurozone Construction PMI for December fell below forecasts to 45.5. With the Eurozone’s construction sector declining for the tenth month, EUR investors are concerned about the bloc’s economic recovery going into 2021. Usamah Bhatti, an economist at IHS Markit, commented: ‘Concerns surrounding the longer-term impact that the pandemic will have ...

EUR/USD Exchange Rate Sinks as Europe Faces Christmas Lockdowns The Euro to US Dollar (EUR/USD) exchange rate fell by -0.3% today, with the pairing currently trading around $1.22. The Euro (EUR) struggled today following the release of the flash Eurozone Consumer Confidence data, which fell by -13.9. As a result, EUR traders are becoming concerned for the Eurozone’s economy as several key economies in the bloc – included the largest, Germany – have re-entered national lockdowns. Meanwhile, the DIW institute has predicted that the Germany economy could shrink by -1% in the fourth quarter...

GBP/USD Exchange Rate Falls as Brexit Fears and New Covid-19 Strain Darkens UK Economic Outlook The Pound to US Dollar (GBP/USD) exchange rate plummets by -2% today after France banned UK transport and hauliers following news of a new mutation of Covid-19 in the south-east of Britain. British Transport Secretary, Grant Shapps, said that there will be ‘significant disruption’ at Dover, sparking concerns for the UK economy. Paul Donovan, the chief economist at UBS Global Wealth Management, commented: ‘The near-term economic effects of this are, perhaps, limited - inventories tend to be ...