Pound Soars Against the Euro and US Dollar

The Pound grew considerably against the Euro and US Dollar, rounding off Monday at 1.1639 and 1.4128 respectively, according to the Foreign Exchange Market.

This came after investors were happy that the Scottish National Part failed to achieve an outright majority during the elections last week. Furthermore, news that even more covid restrictions would be relaxed from next week also helped to bolster the currency.

The Euro had a challenging day after uncertainty around the European Central Bank’s plans weighed heavily on the single currency. This is down to the fact that policymakers might start to taper is bond purchases next month or allow inflation to rise beyond the target for a period of time. The latest ZEW surveys will be the main focus today and this could mean that the Euro faces further challenges today.

It was a defensive start to the week for the US Dollar yesterday after the currency continued to suffer from the disappointing payroll print last week. The risk-on mood also undermined the currency while dovish Federal Reserve interest rate expectations also placed pressure on the Greenback.


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.