Pound Pushes Through The Key Barrier Of Resistance Against USD

It was yet another good day of trading for the Pound during Thursday as it climbed higher, breaking through a vital barrier of resistance against the US Dollar. Despite the promising movements, the currency was benefiting more from the weakness of its peers as opposed to its strength. At the end of trading, the pound wrapped up the day at 1.1054 against the Euro and 1.3096 against the US Dollar according to the Foreign Exchange market. This trend is likely to continue through Friday trading.

currency news

A faster-than-expected decline in growth in the German GDP estimate caused the Euro to fall behind on Thursday. During the second quarter, the single currency experienced a 10.1% drop pushing into a deeper recession than previously expected. The consumer price index in Germany also fell into deflation during July, causing further problems for the Euro.

New GDP figures in the US revealed that the economy shrank by 32.9% on an annual basis during the second quarter, although this was lower than expected. However, the US Dollar slipped lower during trading yesterday although there is hope that the Federal Reserve will improve its measure of inflation, helping to bolster the US Dollar slightly.


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.