Us Dollar Drops While Euro Reaches a New Monthly High Against GBP

On Wednesday, the release of the finalised manufacturing PMI in the UK confirmed that UK factory activity had slowed down, forcing the currency to struggle.


While it was revised slightly higher, the data aligned with the ongoing supply chain issues and staff shortages that have been caused by both increasing Covid-19 cases and Brexit. This was added to the concerns around the economic recovery in the UK, seeing the Pound finish at 1.1631 against the Euro and 1.3772 against the US Dollar according to the Foreign Exchange Market.

The Euro strengthened through yesterday’s session as there was an improvement in unemployment figures. This resulted in investors hoping for a more hawkish approach from the European Central Bank to the monetary policy, especially after the CPI release on Tuesday which also helped to bolster the single currency.

A drop in US Treasury yields caused the US Dollar to weaken yesterday while poor jobs data also heaped misery on the Greenback. The news that the US private sector hired just 374,000 new workers in August, which came under the 613,000 that was predicted, forcing the currency to lose some ground and weaken.


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.