A Mixed Day For the US Dollar But a Strong Day For The Pound

There was an element of optimism surrounding the Pound through Tuesday after Boris Johnson suggested that a Brexit deal could be reached by next month. Despite the news that there had been as many as 600,000 jobs lost during the Covid-19 pandemic, it did improve against the Euro as it ended the day at 1.1161. However, it did lose some ground against the US Dollar according to the Foreign Exchange market as it dropped to 1.2567. However, today is likely to be a different day for the currency as the CPI figures are likely to have an impact on its performance.

currency news

The Euro lost some momentum on Tuesday despite the news that the latest ZEW surveys indicate that economic sentiment had improved in Germany, as well as in many other countries throughout Europe. However, the single currency is not likely to make any progress today as the CPI figures are likely to indicate that there was some contraction in the bloc last month.

After the news that US retail sales were up, the US Dollar strengthened through Tuesday but those gains were short-lived. This was down to the fact that it is still unclear when and how strong the recovery of the US economy will be. Therefore, any movement in the US Dollar today is likely to be dictated by market sentiment.


NewbridgeFX offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients. A lot of these products are ways for businesses, and individuals, to manage and mitigate currency risk, and are used frequently during times of increased volatility. Alongside up to date foreign exchange related market news, which works in tandem with our range of products. 

Spot Contract

Lock in an exchange rate for immediate onward settlement. Funds can be received the same day.

Forward Contract

Lock in an exchange rate today, but for settlement at a later date that suits you, up to 12 months in the future.

Market Order

We monitor the markets real time and take action to trade between currencies when your desired rate is achieved.

Rate Alerts

Set an alert for phone or email notification when an exchange rate has be achieved to take advantage at the best time.