New One Week High for GBP/EUR Rate

The new Job Protection Scheme announced by Chancellor Rishi Sunak helped to push Pound exchange rates higher during trading on Thursday. The news was welcomed by investors and caused the GBP/EUR rate to a one week high of 1.0922 and nudged the GBP/USD rate up to 1.2748 according to the Foreign Exchange Market. The scheme is designed to help support jobs through the latest coronavirus restrictions while helping to keep levels of unemployment down. However, there are more concerns that further restrictions in the UK are imminent and that could cause problems for the currency and the UK economy.

The Euro struggled through trading yesterday as the single currency was battling against the continued increase in coronavirus cases throughout Europe. The disappointing outcomes of the German IFO survey, whereby business sentiment was increasing at a slower rate than initially expected during September.

Investors found comfort in the US Dollar causing it to strike higher as concerns around a global recovery and coronavirus still caused problems. Despite this, there was bad news surrounding US jobless claims as it increased at a faster rate than expected last week and that did slow down any gains during trading yesterday.

Click here to view live market rates

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
CONTACT
close slider

Contact NewbridgeFX

Please use the form below to contact NewbridgeFX and a member of the team will be in touch shortly