{"id":100262,"date":"2020-05-19T12:10:17","date_gmt":"2020-05-19T16:10:17","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100262"},"modified":"2020-05-19T13:18:47","modified_gmt":"2020-05-19T17:18:47","slug":"103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/","title":{"rendered":"GBP\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold"},"content":{"rendered":"

The British pound<\/a> is higher against the Euro<\/a> on Tuesday.<\/p>\n

A Franco-German proposal for a 500 billion euro EU rescue fund has done little for the euro versus Sterling since it was announced late yesterday.<\/p>\n

A record rise in UK jobless in April claims didn\u2019t dampen demand for Sterling, which has been recouping some of Friday\u2019s large decline.<\/p>\n

Pound to Euro<\/a> was higher by 32 pips (+0.29%) to 1.1204 as of 3pm GMT.<\/p>\n

GBP\/EUR has found a temporary base at 1.116 this week after steep declines on Friday when the exchange rate lost over 1%. This week so far it is little changed.<\/p>\n

Check real time GBP to EUR exchange rate<\/span><\/a><\/div>\n

GBP: UK jobless claims most on record<\/h2>\n

The official UK unemployment rate is too dated to include the major impact from the lockdown but the more up-to-date jobless claims data for April show what\u2019s to come. More Brits filed for jobless benefits in April than any single month on record by a wide margin.<\/p>\n

UK Jobless claims surged by 856,000 in April versus a revised 5000 in March.<\/p>\n

EUR: 500 billion EU recovery fund<\/h2>\n

A potentially huge new development in Europe\u2019s fight against the economic damage done by the pandemic happened yesterday. German Chancellor Angela Merkel and French President Emmanuel Macron have made a proposal for a 500 billion euro \u2018rescue fund\u2019 for the European Union.<\/p>\n

However, so far there has been limited positive reaction in the euro versus the pound, in part because the deal still needs to be agreed by all 27 member states. For all European countries to be satisfied with the arrangements, French finance minister Le Maire predicted it might take until next year.<\/p>\n

The general concept is that the funds would be raised by the European Commission, which would borrow on capital markets and then disburse the funds to the nation states as needed as grants instead of loans. The EU bonds would then be paid back via the EU budget rather than directly by the nations who used the funds. Each nation state would contribute in the same manner that they contribute to the EU budget, for example Germany would contribute 27%.<\/p>\n","protected":false},"excerpt":{"rendered":"

The British pound is higher against the Euro on Tuesday. A Franco-German proposal for a 500 billion euro EU rescue fund has done little for the euro versus Sterling since it was announced late yesterday. A record rise in UK jobless in April claims didn\u2019t dampen demand for Sterling, which has been recouping some of […]<\/p>\n","protected":false},"author":163946608,"featured_media":5298,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2772,2771,2770,2621,2410],"class_list":{"0":"post-100262","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eu-recovery-fund","10":"tag-eu-rescue-fund","11":"tag-euro-pound","12":"tag-eurogroup-meeting","13":"tag-gbp-eur"},"acf":[],"yoast_head":"\nGBP\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jasper Lawler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold\",\"datePublished\":\"2020-05-19T16:10:17+00:00\",\"dateModified\":\"2020-05-19T17:18:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/\"},\"wordCount\":384,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100866-gbp-eur-brexit-eurozone-cpi.jpg\",\"keywords\":[\"eu recovery fund\",\"eu rescue fund\",\"euro pound\",\"Eurogroup meeting\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/\",\"name\":\"GBP\\\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100866-gbp-eur-brexit-eurozone-cpi.jpg\",\"datePublished\":\"2020-05-19T16:10:17+00:00\",\"dateModified\":\"2020-05-19T17:18:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100866-gbp-eur-brexit-eurozone-cpi.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100866-gbp-eur-brexit-eurozone-cpi.jpg\",\"width\":1188,\"height\":669,\"caption\":\"GBP\\\/EUR: Brexit & Eurozone CPI To Drive Trading Into The Weekend\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\",\"name\":\"Jasper Lawler\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/033dd9202c108be953e1051ba62e5f6a16ff376ce29486d8b9a8cf9dcc8a2d39?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/033dd9202c108be953e1051ba62e5f6a16ff376ce29486d8b9a8cf9dcc8a2d39?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/033dd9202c108be953e1051ba62e5f6a16ff376ce29486d8b9a8cf9dcc8a2d39?s=96&d=blank&r=g\",\"caption\":\"Jasper Lawler\"},\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/jasper\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/","twitter_misc":{"Written by":"Jasper Lawler","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/"},"author":{"name":"Jasper Lawler","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/7cdd4328aaa82c6c13caee5961755200"},"headline":"GBP\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold","datePublished":"2020-05-19T16:10:17+00:00","dateModified":"2020-05-19T17:18:47+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/"},"wordCount":384,"image":{"@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100866-gbp-eur-brexit-eurozone-cpi.jpg","keywords":["eu recovery fund","eu rescue fund","euro pound","Eurogroup meeting","gbp\/eur"],"articleSection":["EUR","GBP"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/","url":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/","name":"GBP\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100866-gbp-eur-brexit-eurozone-cpi.jpg","datePublished":"2020-05-19T16:10:17+00:00","dateModified":"2020-05-19T17:18:47+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/7cdd4328aaa82c6c13caee5961755200"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100866-gbp-eur-brexit-eurozone-cpi.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100866-gbp-eur-brexit-eurozone-cpi.jpg","width":1188,"height":669,"caption":"GBP\/EUR: Brexit & Eurozone CPI To Drive Trading Into The Weekend"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/103240-gbp-eur-500bn-eu-rescue-fund-leaves-euro-traders-cold\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/EUR: 500bn EU Rescue Fund Leaves Euro Traders Cold"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/7cdd4328aaa82c6c13caee5961755200","name":"Jasper Lawler","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/033dd9202c108be953e1051ba62e5f6a16ff376ce29486d8b9a8cf9dcc8a2d39?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/033dd9202c108be953e1051ba62e5f6a16ff376ce29486d8b9a8cf9dcc8a2d39?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/033dd9202c108be953e1051ba62e5f6a16ff376ce29486d8b9a8cf9dcc8a2d39?s=96&d=blank&r=g","caption":"Jasper Lawler"},"url":"https:\/\/currencylive.com\/news\/author\/jasper\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100866-gbp-eur-brexit-eurozone-cpi.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/100262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946608"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=100262"}],"version-history":[{"count":5,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/100262\/revisions"}],"predecessor-version":[{"id":100269,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/100262\/revisions\/100269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/5298"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=100262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=100262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=100262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}