Pound Recovers Losses While US Dollar Dips

On Friday, the Pound managed to claw back some of its losses as it saw improvements against the US Dollar and the Euro, finishing at 1.3825 and 1.1652 respectively according to the Foreign Exchange Market.

currency-news

These gains came after further news was announced that the 19th July reopening was still likely to take place, giving investors a boost. Today, the final service PMI might add some weight to the currency with the expansion of the service sector still looking strong.

The Euro lost ground on Friday after comments from the European Central Bank, whereby it still maintains its accommodative approach to monetary policy. It also added that the economic recovery was still fragile and so, demand for the single currency waned. 

The non-farm payrolls figures came in higher than expected but this still forced the US Dollar to dip on Friday. The safe-haven currency also suffered at the hands of some profit-taking but it did manage to keep hold of some of the gains it had seen during the week. Today, there is no notable data expected which means that the currency is likely to be driven by risk appetite.

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