New Six-Week Low For Pound To Euro Rate

A new six-week low was hit during trading on Wednesday as the Pound to Euro exchange rate dropped to 1.1016 as indicated by the Foreign Exchange market. This followed the publication of the internal market bill from the UK government which indicates that there will be changes to the EU withdrawal agreements. This left investors concerned as the European Commission President indicated that it would break international law. Despite this, the currency did bounce back after it was confirmed that the bill would not bring an end to Brexit trade talks. The Pound finished the day at 1.3007 against the US Dollar, up from the previous day.

currency news

New forecasts will be published by the European Central Bank which could indicate that it has more confidence in the economy, with expectations suggesting that GDP expectations will be revised upwards. This caused the Euro to gain some ground against both the Pound and the US Dollar.

Some of the recent gains seen by the US Dollar were lost on Wednesday after an improvement in market sentiment. This came despite improvements in the US jobs market whereby it found itself in the best position since the pandemic started.


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.