Imminent ECB Decision Pushes Euro Down

On Wednesday, the Pound managed to close the gap with the Euro as well as the US Dollar.

This boost came after Next announced that it had achieved impressive sales figures for the second quarter of 2021 while public-sector borrowing also dropped more than expected. However, these gains were capped given the news that more of the workforce is self-isolating following the ‘ping-demic’ that the UK is currently facing. So, the currency finished at 1.1329 against the Euro and 1.3715 against the US Dollar according to the Foreign Exchange Market.

The Euro lost ground against many of the peers yesterday as investors took a cautious approach ahead of the European Central Bank’s interest rate decision due later today. Investors expect the ECB to take a dovish approach. However, the Euro was held back as a result of the negative correlation with the US Dollar.

During yesterday’s session, the US Dollar slipped as an improvement in risk appetite pushed demand for the safe-haven currency down. As many company reports were better-than-expected, European stock markets soared and this new optimism resulted in investors turning their attention to assets that carried more risk.


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.