Impressive Growth In Pound Exchange Rates

The Pound started Monday off well, increasing against many of its peers even after the Bank Of England announced again that the UK is experiencing a V-shaped recovery. There are still concerns about the relationship with China after the extradition treaty with Hong Kong was suspended by the Government. This could cause problems for the currency although it did round off the day at 1.106 against the Euro and 1.2659 against the US Dollar according to the Foreign Exchange Market.

currency news

EU coronavirus recovery fund talks continued through Monday and that left the single currency remaining relatively steady although there was hope that the EU leaders would come to an agreement. Eventually, they came to a deal overnight and that is likely to have a positive impact on the Euro moving forward. As a result, this did lead to some profit-taking this morning as investors finally had confidence in the single currency.

There was not much in the way of movement for the US Dollar yesterday as demand for the currency was eased by the news that progress was being made in the race for a coronavirus vaccine. This did help to ease concerns about increasing cases although, with very little data, the US dollar might hold the same position through trading today.


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.