Breaking: GBP/USD flash crash, drops from 1.2379-1.2242
|GBP/USD flash crash, drops from 1.2379-1.2242.
The US dollar spiked hard across the board into the Tokyo fix, the last for Japan's fiscal year, sending sterling down 1.1% the yen down over 0.5%, EUR -.0.48% and AUD -1.8%.
GBP/USD-15 chart
As for the US dollar, the US Federal Reserve is back to the zero bound coupled with quantitative easing, measures last seen during the global financial crisis (GFC). However, the safe haven of the dollar gives it an edge. The US dollar is also broadly stronger at the start of this week, despite the rate of COVID-19 cases steeply on the rise, with the biggest jump in New Jersey.
COVID-19 cases jump in US
New Jersey coronavirus cases increase to 16,636 with 198 deaths. Officials announce 3,347 new positive tests. More than 25,000 people have tested negative in the state. New Jersey now has more cases than all but eight countries. Another 3,847 cases remain under investigation.
The partial county-by-county breakdown of cases includes:
- Bergen County: 2,482
- Essex County: 1,564
- Hudson County: 1,314
- Union County: 1,213
- Middlesex County: 1,123
- Passaic County: 1,091
- Monmouth County: 1,030
- Ocean County: 874
- Morris County: 720
- Somerset County: 349
- Mercer County: 249
- Camden County: 200
- Burlington County: 178
- Sussex County: 113
- Gloucester County: 89
- Hunterdon County: 79
- Warren County: 68
- Atlantic County: 29
- Cumberland County: 12
- Cape May County: 9
- Salem County: 3
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