Relief of Brexit Deal is Likely to See Pound to Euro Rate Dip

As the year came to an end, the Pound edged higher on Thursday following the news that the UK and the EU had passed the Brexit trade agreements. The gains were then extended following news that the UK markets could continue using EU trading platforms for the first quarter of 2021.

Furthermore, the news of the Oxford-Astrazeneca vaccine being given the green light also helped to boost the Pound although news of further lockdown restrictions could prove to be a problem for the currency. However, trading at the end of the week saw the Pound finish the day at 1.1192 against the Euro and 1.3672 against the US Dollar according to the Foreign Exchange Market.

There were losses for the Euro as the year came to an end, however, the negative correlation with the weak USD exchange rates helped to recover some losses. Today, gains could be restricted as the manufacturing PMI has been revised downwards while increasing coronavirus infections are also placing further pressure on the single currency.

Following a correction in USD exchange rates, the US Dollar managed to recover some losses while a reduction in initial jobless claims also had an impact. However, the greenback is likely to experience volatility due to continued talks around relief payments.


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.