Covid-19 Treatment Hopes Halt US Dollar Rate Rally

As Friday came to a close the Pound made some decent gains, which meant that it ended the week in a higher position against many of its peers. This improvement in the foreign exchange rate indicated that the currency is undervalued.  As a result of the problems that came after the arrival of the current pandemic. So, on Friday, the Pound remained steady as it finished up at 1.1505 against the Euro, and 1.2510 against the dollar.

currency news

The Euro had a relatively mixed week last week but on Friday, it remained relatively directionless as it ended the week down against the Pound. However, investors still remain hesitant to commit to international payments, as they continue to monitor the problems relating to unity within the EU, while the latest ZEW economic surveys are likely to be their main focus during the first half of this week.

For the dollar, the week ended relatively motionless, as the safe-haven currency demand dropped as a result of positive progress reports in relation to treatments for Covid-19. However, it is likely to be another choppy week for the Dollar, as it aims to deal with more jobless claims.

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