Worst Week in Ten Years for the US Dollar

On Friday 27th March the Pound continued its journey of a resurgence at the end of last week as it reached 1.1177 against the Euro. As the US slumped, the foreign exchange rate for the pound against the dollar reached 1.2457. However, the pound did struggle as the day came to a close following the news that the Prime Minister had been diagnosed with Coronavirus.

currency news

It was a slightly different story for the Euro, however, as there was hope that Italy might have hit its peak in Coronavirus cases and deaths but this was not the case, pushing it down in value. There could be more bad news for the Euro currency and international payments as there could be some difficulties following the business confidence survey for March. All of which is likely to report a challenging fall in the economic sentiment for the Eurozone.

It was the biggest weekly fall in ten years for the US dollar and this came following the news of a stimulus package worth $2.2 trillion. What’s more, there were further concerns about USD liquidity. As this week progresses, the US payroll figures, which are hugely influential will be published. However, the results are likely to bring on more misery for the US 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.