New Two-Week High for the Pound to Euro Exchange Rate

The Pound to Euro exchange rate reached a two-week high on Wednesday after Nicola sturgeon denied that she would look to hold an illegal independence referendum.

This gave investors a slight lift. At the end of trading, the pound closed at 1.1583 against the Euro and 1.3907 against the US Dollar according to the Foreign Exchange Market. The main focus today will be the latest news from the Bank of England’s policy meeting.

It was a defensive day for the Euro yesterday as it continued to suffer at the mercy of negative correlation with the Us Dollar. Despite this, any downturn was limited after the release of the latest PMI which indicated that the private sector had grown. 

It was a day of rallying for the US Dollar after investors pounced on comments made by the US Treasury Secretary on possible rate increases. However, the US Dollar lost some ground later in the day once data had been released. The latest ISM non-manufacturing PMI and ADP employment report came in below the expected figures, limiting the direction of the currency. 


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.