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An overview of the foreign exchange market in 2020

2020, a year according to the expert predictions in 2019, was supposed to be a year of increased volatility in financial markets. However, most unexpectedly, the year faced record-breaking low volatility due to the impact of coronavirus spread across the world.

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An overview of the foreign exchange market in 2020

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  1. An overview of the foreign exchange market in 2020

  2. 2020, a year according to the expert predictions in 2019, was supposed to be a year of increased volatility in financial markets. However, most unexpectedly, the year faced record-breaking low volatility due to the impact of coronavirus spread across the world. Covid-19 fueled many startlingly changes across the globe, including political tensions between countries, fear of global recession, economic backlash etc.

  3. POLITICAL STABILITY MONETARY POLICIES International money transfers were also hugely affected by the coronavirus pandemic. In most general cases, foreign exchange rates are affected by: INTEREST RATES ECONOMIC GROWTH IMPORT AND EXPORT RANGES

  4. According to all the above-mentioned factors, 2020 was predicted to have a strong remittance market. And about half the year, the financial markets were fairly remaining half uprooted all fields within the world with only one global event, one international situation bruising across boundaries, Covid-19. calm, yet the

  5. Foreign exchange market got affected by economic and geographical limitations during the period. IT RESULTED IN A DECLINE IN GROSS DOMESTIC PRODUCT (GDP) IN SOME COUNTRIES GEOGRAPHIC BOUNDARIES BETWEEN COUNTRIES CLOSED SUPPLY CHAINS GOT DISRUPTED CURRENCIES LOST THEIR VALUE

  6. Forex market and exchange rates have a direct effect on all international businesses, trades and money transfers, because without conversion and transactions to different currencies, how can global business flourish. Online money transfers, eCommerce websites etc. had a reasonable boost during this global pandemic.

  7. THANK YOU... From, Best online money transfer in Australia

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