Vaccine Rollout Bolsters Pound to Euro Rate

Some good gains were seen in the GBP exchange rates on Thursday following news that the military would play a pivotal role in deploying vaccines to the whole of the UK.

Despite the gains, they were capped by speculation that the Bank of England will have no other option other than to slacken its monetary policy in order to ease the economic implications of the latest lockdown measures. As a result, the currency rounded off the day at 1.1059 against the Euro and 1.3569 against the US Dollar according to the Foreign Exchange Market.

Poor EUR data releases placed some pressure on the Euro yesterday, forcing it to struggle. There were poor performances seen in both inflation and retail sales with November seeing a significant drop in retail sales, leading to concerns for investors. This meant that the EUR to USD was a cent lower while the Euro to Pound rate weakened.

The US Dollar did strengthen yesterday following an increase in US bond yields after it was confirmed that Democrats would take control of the senate. Better-than-expected ISM non-manufacturing PMI release also bolstered the greenback as well as a decrease in the initial jobless claims last week.


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.