Key Resistance Level Passed for Euro to US Dollar Rate

Through trading on Monday, the Pound edged higher as it benefited from optimism that moved through the markets.

currency-news

Sterling sentiment was also boosted by news that the majority of the economy continues to hope for a significant rebound during the summer. However, the latest jobs report figures indicate that unemployment has dropped, and that could support the Pound. At the end of trading, the Foreign Exchange Market showed that the currency finished at 1.162 against the Euro and 1.3988 against the US Dollar.

The Euro also struck higher yesterday after a drop in the US Dollar as a result of a negative correlation between the two. The Euro was also boosted by the continued speed of the vaccine rollout and improving statistics following lockdowns in several countries. 

It was a poor start to the week for the US Dollar with the currency dropping to a one-monthly low following demand being undermined by economic optimism. Treasury yields dropped as investors continued to remain upbeat about a global recovery while the equity markets surged. Looking ahead through the week, it’s looking like the US Dollar will continue on the back foot today.

NewbridgeFX:
Products

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.

NewbridgeFX
Get a Quote
close slider

Contact NewbridgeFX

Please use the form below to contact NewbridgeFX and a member of the team will be in touch shortly