RationalFX : The pound rebounded yesterday as markets worrying about the spread of the coronavirus found some stability, encouraging investors to pare back their rush into dollars that had sent GBP lower……
Analysts will also be watching for developments in Brussels and London ahead of the European Union and Britain beginning their negotiations to agree a trade deal for the end of the Brexit transition period in December. However, the main driver of the pound was a tentative recovery in risk appetite following Monday’s significant selloff.
The stock market had suffered its biggest loses since mid-2016 amid fears the coronavirus was morphing into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.
Data from the US showed consumer confidence rose less than expected in February, as people’s assessment of current conditions wavered. The Consumer Confidence Index came in at 130.7.
Source : ETFWorld.co.uk