26.03.2020 GBP/USD Daily Analysis

26.03.2020 GBP/USD Daily Analysis

Today GBP/USD is trading at $1.1910 as the USD has continued to go down for a week. The news that the Congress and the White House agreed on a $2 trillion relief package to ease the impact of the coronavirus on the economy did nothing to help boost the USD. The USD Index went down by 0.19% to 100.810. The US has reported a total of more than 65,000 coronavirus cases across all states. Later today, US Jobless Claims data will be released, which is the number of individuals who filed for unemployment insurance for the first time during the past week.  Tohru Sasaki, JP Morgan Securities’ head of Japan markets research said,  “It could be difficult for the markets to digest weekly jobless claims. Bad numbers are expected and priced into a certain extent, but there are people who think things will get even worse.”   Analysts expect the numbers to be high as the country has been ravaged by the Covid-19 pandemic.