Inflation Fears and Ongoing Supply Chain Concerns Cause Pound to Fall

There was some selling pressure on Monday that caused problems for the Pound, following concerns that the economic outlook in the UK could cause further misery for the currency.

While there were some initial gains, this only limited them, as positive comments from the Bank of England weren’t enough to help the Pound hold onto those gains. The currency eventually finished the day at 1.1763 against the Euro and 1.3586 against the US Dollar according to the Foreign Exchange Market.

It was a relatively quiet day for the Euro yesterday after a lack of data left it exposed and open to losses. However, inflationary pressures remained to be a concern with fears arising that the European Central Bank could make a policy error and that dented the appeal of the single currency.

It was a relatively mixed day for the US Dollar yesterday after an average market mood meant that any gains were relatively limited. Further limits were also placed on the Greenback as the US Markets were closed for Columbus Day. However, today, the JOLT’s job openings data for August could give the US Dollar a boost.

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