Euro is a currency used by the members of the European Union or English countries, Startling Pound (GBP) is used in the UK, Canadian uses the Canadian dollar. Unsurprisingly, there are some good and chocking news or speculations in these regions that could impact the rate of exchange of the three currencies. For instance, Togoh (2019) reports that the European Central Bank reports that the European economy is flagging, and the bank proposed a quantitative easing to raise the economy. Quantitative easing increases the circulation of currency on the economy. If other economies do not adopt a similar policy, the prices and purchasing power of the Euro will decline significantly (Ferdinandusse, Freier, and Ristiniemi, 2020).
McHugh (2019) further claims that political uncertainty and declined confidence in the UK is keeping Euro and GBP under pressure. Such uncertainties would lower the foreign direct investment (FDI) in the UK, thus lowering the demand for GBP, which then lower the exchange rates. Also, even after inflation in the UK, the value of GBP has not improved at a significant margin. However, inflation in the Eurozone is expected to boost the value of the Euro. However, Howes (2020) reports that GDP is expected to rise against the dollar and Euro, and such news would raise the demand this currency in Forex. Smith (2020b) also reports that as of March 2020, the Canadian dollar trembles to near a 3-year low against the US dollar. Due to the plunge of the oil prices by over 20%, which is among the country’s exports, the investor expects that the Bank of Canada would lower the interest rates further.