Improved UK Retail Data Helps Pound to US Dollar Rate to Strengthen

During trading on Tuesday, the Pound edged higher after it was found that UK retail activity had improved during this month.

After the opening of retail and the ongoing vaccine rollout, it was found that retailers had experienced their largest increase in volumes since 2018. This saw the currency finish the day at 1.1501 against the Euro and 1.3904 against the US Dollar according to the Foreign Exchange Market. 

There was a lack of movement for the Euro yesterday as there were no major economic releases to determine any specific direction. However, to prevent the single currency from losing any ground, there was hope that the vaccine rollout will continue to gather pace as new vaccines are being doubled each month.

The US Dollar moved in a narrow range yesterday and the currency didn’t manage to gain any ground, even with an increase in US Treasury yields. This came following investors believing that the Federal Reserve is going to take a dovish tone when it comes to the latest rare decision today. It’s likely that rates will be put on hold for longer and that could force the US Dollar to fall sharply.


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.