Euro to US Dollar Rate Reaches One Week High

The Pound didn’t perform particularly well against its peers on Monday with Brexit talks still causing an element of uncertainty for investors. This was not helped by the news that Boris Johnson also claims that the UK can still prosper even if a deal is not made. However, with talks still ongoing it is likely that this is also going to weigh heavily on the Pound. As trading came to a close, the currency finished the day at 1.1147 against the US Dollar and 1.3219 against the US Dollar according to the Foreign Exchange Market.

The Euro benefited from some gains on Monday with vaccine hope and improving market sentiment helping to drive it forward. It also reached a one week high against the US Dollar although the gains were limited with news that both Poland and Hungary had blocked approval of the latest budget.

There were minimal losses for the US Dollar yesterday as demand for the currency was weakened by news that another possible vaccine had been found. With the vaccine candidate offering some hope, risk sentiment improved. However, US retail sales figures could heap more pressure on the Greenback today with a fall causing problems for the currency.

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NewbridgeFX