Quote Originally Posted by Organ Morgan. View Post
Countries compete to lower the value of their currencies especially relative to their biggest competitor(s), and from an exporting perspective UK gov will be delighted by sterling's decline against the dollar and euro. Trump banged on for ages for the US Fed to cut interest rates to become more competitive. Amongst those three currencies the UK's 0.25% interest base is the highest. These shenanigans is also known as the race to the bottom.
Not 0.25% now us it ?

Bank of England cuts interest rates to 0.1% to fight coronavirus fallout – business live

There are some crazy moves in the oil market tonight. US crude has closed 25% higher tonight, up $5 per barrel at $25.41, as prices surged back from Wednesday’s slump to a 17-year low.

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