This week has been the best for the pound in the past 11 years. The GBP strengthened against the dollar by 6.17%. Investors praised government measures to support the economy.
Dow Jones on Wednesday grew by 11% due to expectations of new measures by the US government to support the economy. Thus, the highest growth since 1933 was recorded during the day.
Business activity in the EU is rapidly falling in March. The composite index fell to 31.4 points.
The dollar is under pressure this week. According to the US Department of Labor, the number of applications for unemployment benefits rose to a record level of 3.283 million.
The merger of Fiat-Chrysler and Peugeot is in jeopardy due to the coronavirus. Factories across Europe are shutting down, and demand for new cars is plummeting.
