Pound to Euro Suffers Following Brexit Deal Concerns

The Pound lost some ground during midweek trading on Wednesday after new concerns about a Brexit trade deal forced it to dip. The comments from the European Commission president put pressure on the currency while the 2020 Spending Review from Rishi Sunak also indicated that the economic emergency in the UK was just starting. Brexit will govern the direction of the Pound for the rest of this week, but it rounded off the day at 1.1232 against the Euro and 1.3384 against the US Dollar according to the Foreign Exchange Market.

The Euro nudged upwards yesterday after the US Dollar pulled back, despite the ongoing concerns of the situation around the Eurozone economy. It was announced that positive growth during Q4 will prove challenging while the ECB’s Financial Stability Review set out a warning stating that countries should refrain from withdrawing financial support too early.

The US Dollar did not experience a lot of movement on Wednesday following the release of economic data. There was an increase in initial jobless claims last week although the durable goods were stronger than expected although this was not enough to bolster 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.