Brexit Talks Leave The Pound Volatile

There was a lot of movement between the GBP to Euro and GBP to US Dollar rate on Friday and this was dictated by the Brexit news and whether the trade talks would continue. This saw the rates finish the day off at 1.1031 and 1.2821 respectively, according to the Foreign Exchange Market. Boris Johnson made an announcement that indicated that the UK should ready itself for a trade deal that is much like Australia.

currency-news

The Euro nudged slightly higher on Friday as market mood improved, giving the single currency the ability to find gains against the US Dollar. Despite this, the gains were relatively limited as the investors in the EUR showed concerns about the ever-increasing coronavirus cases, which is causing problems for the Eurozone economy. This week is likely to see much of the same as coronavirus cases and further restrictions are likely to govern the single currency.

Demand for the US Dollar decreased following news on Friday that US Pharmaceutical company Pfizer had plans to apply for authorisation of a vaccine in November. However, the losses were overturned slightly by news that US retail sales figures had improved and sales growth was increasing at its fastest rate since June.

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