{"id":100817,"date":"2020-06-03T12:15:28","date_gmt":"2020-06-03T16:15:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100817"},"modified":"2020-06-03T13:10:56","modified_gmt":"2020-06-03T17:10:56","slug":"103340-gbp-eur-euro-steadies-after-german-unemployment-rise","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\/","title":{"rendered":"GBP\/EUR: Euro Steadies after German Unemployment Rise"},"content":{"rendered":"<p>The <a href=\"https:\/\/currencylive.com\/news\/currency\/gbp\/\">British pound<\/a> is flat against the <a href=\"https:\/\/currencylive.com\/news\/currency\/eur\/\">euro<\/a> on Wednesday.<\/p>\n<ul>\n<li>Germany unemployment rise slows in May but higher than expected<\/li>\n<li>Idea of UK Brexit \u2018compromise\u2019 rebuffed as \u2018wishful thinking\u2019<\/li>\n<li>ECB interest rate decision tomorrow<\/li>\n<li>UK and Eurozone Services PMIs better than hoped<\/li>\n<\/ul>\n<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a> was lower by 12 pips (-0.11%) to 1.1220 as of 3pm GMT.<\/p>\n<p>The currency pair chopped between 1.12 and 1.125 with no clear direction of travel. Yesterday the exchange rate rose +0.13% and it is higher by 0.84% this week.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to EUR exchange rate<\/span><\/a><\/div>\n<h2>GBP: Pound holds up as Treasury yields rise<\/h2>\n<p>The pound-euro exchange rate has steadied above 1.12 in the past two days, well off the two month lows reached last week. The pause happened as both Sterling and the euro continued upward momentum versus the dollar with GBP\/USD rising above 1.26 and EUR\/USD above 1.12 to its highest since March 12.<\/p>\n<p>Sterling had pulled off the lows amid reports the UK is willing to compromise on some of its \u2018red lines\u2019 earlier in the week but the Prime Minister\u2019s official spokesman said yesterday that was \u201cwishful thinking by the EU.\u201d<\/p>\n<p>The pound is being supported by a broader risk-on tone in markets that saw US 10-year treasury yields at the highest since April 14 and the Nasdaq Composite come within touching distance of all-time highs.<\/p>\n<p>The final UK services PMI was reported at 29.0 versus the 27.8 preliminary estimate.<\/p>\n<h2>EUR: Euro steadies before ECB<\/h2>\n<p>Economic data from Europe was comparable with the final Eurozone PMI at 30.5 versus the prior 28.7 estimate.<\/p>\n<p>A picture of better than expected data in Europe was spoiled somewhat by a bigger rise in German unemployment than predicted. The rate of decline slowed in May from April but was a notably bigger number in 238,000 versus the 190,000 consensus from economists and 373,000 in April.<\/p>\n<p>Big gains in the euro this week are starting to stall ahead of the widely-anticipated European Central Bank meeting tomorrow. Investors are looking for the ECB to expand its PEPP asset purchase program after policymakers predicted that the more benign economic outcome from the pandemic in the region was now unlikely.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is flat against the euro on Wednesday. Germany unemployment rise slows in May but higher than expected Idea of UK Brexit \u2018compromise\u2019 rebuffed as \u2018wishful thinking\u2019 ECB interest rate decision tomorrow UK and Eurozone Services PMIs better than hoped GBP\/EUR was lower by 12 pips (-0.11%) to 1.1220 as of 3pm GMT. [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":3213,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2722,2649,2825,2824],"class_list":{"0":"post-100817","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-ecb-meeting","10":"tag-eur-gbp","11":"tag-germany-unemployment","12":"tag-uk-pmi"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro Steadies after German Unemployment Rise - 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\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\/\" \/>\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\\\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: Euro Steadies after German Unemployment Rise\",\"datePublished\":\"2020-06-03T16:15:28+00:00\",\"dateModified\":\"2020-06-03T17:10:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\\\/\"},\"wordCount\":377,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100553-gbp-eur-trade-war-hits-germany-1.jpg\",\"keywords\":[\"ecb meeting\",\"eur\\\/gbp\",\"germany unemployment\",\"uk pmi\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103340-gbp-eur-euro-steadies-after-german-unemployment-rise\\\/\",\"name\":\"GBP\\\/EUR: Euro Steadies after German Unemployment Rise - 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