The COVID-19 pandemic has created a very volatile environment in the foreign exchange market especially for currencies perceived as higher risk. Here Ebury takes a look at which emerging market currencies have been affected, to what extent as well as laying out some expectations for the future.

Last week's top performing currencies were those highly dependent on energy exports after an increase in crude oil prices. Plus, check out the usual expert analysis and expectations for GBP, EUR and USD.

Interest rates were kept unchanged, although the central bank ramped up its quantitative easing programme. Read our full expert review here and what the announcement and associated comments could mean for the UK economy going forward.

Investors are bracing for this afternoon’s Bank of England meeting with an increase in the asset purchase programme expected. Plus, elsewhere in the markets, investors remained in a cautious mood, continuing to favour safer currencies over those deemed as high-risk.

The Bank of England appears on course to ramp up its efforts to protect the UK economy from the impact of the COVID-19 pandemic this week. Find out what the possible outcomes and implications are ahead of Thursday's meeting.

A look back at last week's market activity with a sell off in emerging market currencies and indications the ECB's measures are having an impact. Plus, the events and data to keep an eye on this week including the Bank of England's June meeting.

Risk aversion returned to financial markets again on Thursday, with concerns over a potential second wave of the COVID-19 virus leading to a violent sell-off in stocks and high risk currencies.

Chair of the Federal Reserve, Jerome Powell, struck a dovish tone during yesterday’s FOMC announcement, warning about the downside risks posed by the COVID-19 pandemic and stating that rates will likely stay at current levels for the foreseeable future.