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The euro sunk to a 33-month trough against the Swiss franc on Tuesday as traders bought the safe-haven franc in droves due to fears about the coronavirus and how it will continue to impact the global markets.
he Pound Sterling was weaker against both the greenback and the Euro during London trade on Tuesday as Brexit worries resurfaced.
Just as global markets began to stabilize following the “phase 1” trade deal between the United States and China, things have taken a sharp turn to the downside thanks to the rising death toll of the coronavirus in China.
Oil markets gave up the gains they made due to the increasing optimism caused by the signing of phase 1 of the trade deal between the United States and China,
The Pound Sterling steadied against its major rivals during the London trading session though FX traders are wary of this week's policy decision from the Bank of England.
Global markets headed broadly lower on Monday, following a decline started last week that was compounded when new cases of the deadly coronavirus were discovered across the globe
The head of the European Central Bank told reporters on Thursday that downside risks continued to be a concern to the central bank,
The Swiss National Bank chairman Thomas Jordan said during an interview with Bloomberg TV that the bank doesn't engage in currency manipulation through foreign currency purchases.
The Pound Sterling had earlier recovered from a 1-month trough against the common currency Euro of the previous session, as this week's economic data reduced
The death toll for those hit by the China-born coronavirus surged to 17 on Wednesday, from 11 earlier in the week, sending ripples of concern across the globe.
Investors' expectations that the European Central Bank is poised to express a more cautious turn has kept the Euro under pressure.
During the weekend, loyal groups to General Khalifa Haftar managed to disrupt the Lybian oil production
Only hours before his impeachment trial was set to begin, U.S. President Donald Trump addressed an eager crowd at the 50th annual World Economic Forum in Davos, Switzerland.
Before the release of UK labor data, the Pound Sterling had remained steady.
The Bank of Japan decided to keep the cash rate steady as well as revising up its economic growth forecast.