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Uncertainty Over Coronavirus May Affect Currency Pairings Such As USD To CAD

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Uncertainty Over Coronavirus May Affect Currency Pairings Such As USD To CAD

March 03
17:39 2020
Uncertainty Over Coronavirus May Affect Currency Pairings Such As USD To CAD
KnightsbridgeFX offers currency exchange services at rates lower than the banks. Currencies include CAD, USD, AUS, GBP, EUR, and NZD.

KnightsbridgeFX is pleased to announce that the firm offers currency rates that are typically lower than those provided by the banks. The currency market has been volatile of late due to the coronavirus and its potential impact on the economy and supply chains.  There has been a flight to safety of late.  KnightsbridgeFX specializes in a range of currencies, including USD to CAD. The results of the spread of the deadly virus have been particularly apparent in the trading for CAD, USD, AUS, GBP, EUR, and NZD currencies.

Both the AUS and New Zealand dollars finished lower recently, despite the release of more optimistic domestic economic data. Both the Aussie and the Kiwi were affected by the surging USD. There has been a falling demand for currencies with higher yields combined with lower risk sentiment due to the spread of coronavirus fatalities. Traders have tended to move funds into safe-haven assets.

More details are available on the blog at https://www.knightsbridgefx.com/

The mysterious and rapidly spreading coronavirus has infected hundreds in China and killed many as well. This danger may cause investors to start looking to reduce risks due to supply chains being impacted and consumers less likely to travel and spend money as a result. The fear of the virus spreading could also simply change consumer behaviour to a more conservative approach.  The effects in China include disruptions to supply chains and the imposition of temporary regulations designed to slow down the spread of the disease.

Many locations within China, for example, have put measures in place that impact the movement of materials both in and out. Logistics and transportation challenges can have major effects on the currency rates, not only in Asian markets but in Europe, the United Kingdom, and North America.

The main thing to consider is how long this virus will keep spreading and if the new infection numbers will keep moving up or if the virus will be contained.  In the long term, assuming the virus is contained, everything should move back to normal.  However, if the numbers keep increasing and supply chains keep being impacted, this could cause real damage to intertwined economies.

KnightsbridgeFX is a Toronto-based currency exchange firm regulated by FINTRAC (Government of Canada agency).  KnightsbridgeFX guarantees to beat the bank’s exchange rate. In fact, they check the banks every morning to ensure that their exchange rates are significantly better.

Contact and location information are available at Knightsbridge Foreign Exchange Toronto

Media Contact
Company Name: KnightsbridgeFX
Contact Person: Rahim Madhavji
Email: Send Email
Phone: (416) 479-0834
Address:100 King St W #5700
City: Toronto
State: ON M5X 1C7
Country: Canada
Website: https://www.knightsbridgefx.com/