New One Week Low For Pound to Euro Rate After Coronavirus Concerns

During Tuesday’s session, the Pound trended lower following concerns over the growing cases of the delta variant of coronavirus and how that could delay the reopening plans on 21st June.

However, there was further pressure placed on the currency following increasing tensions between the UK and the EU over the Northern Ireland protocol. The Pound could experience further losses if a meeting taking place today does not find a solution. At the end of trading, the pound finished at 1.1625 against the Euro and 1.415 against the US Dollar according to the Foreign Exchange Market.

The Euro nudged higher yesterday after the latest Eurozone GDP estimate was revised higher during the first quarter of 2021. Despite these gains, they were limited as the latest industrial production figures from Germany as well as ZEW economic sentiment both came in lower than expected, preventing the Euro from making further gains.

There were modest gains for the US Dollar on Tuesday, as the currency took advantage of a slight downturn in market sentiment. Furthermore, the uptrend was strengthened by the JOLT’s job opening figures which came in at a record high during April.


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.