{"id":101504,"date":"2020-06-26T11:32:10","date_gmt":"2020-06-26T15:32:10","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101504"},"modified":"2020-06-26T11:32:10","modified_gmt":"2020-06-26T15:32:10","slug":"103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\/","title":{"rendered":"GBP\/EUR: Pound below 1.10 Euros for first time in 3-months"},"content":{"rendered":"<p>The British pound is lower against the euro on Friday.<\/p>\n<ul>\n<li><strong>Lisbon Portugal &amp; western Germany re-impose localised lockdown<\/strong><\/li>\n<li><strong>Macron \/ Merkel will not present a new EU Recovery Fund proposal<\/strong><\/li>\n<li><strong>UK Shopping centre operator Intu files for administration<\/strong><\/li>\n<li><strong>Pound-euro exchange rate -0.51%<\/strong><\/li>\n<\/ul>\n<p>GBP\/EUR was down by 65 pips (-0.57%) to 1.1000 as of 3pm GMT.<\/p>\n<p>The currency pair started selling off in the late morning and continued to fall until dropping below the 1.10 round number for the first time since March 26. It had risen +0.29% yesterday.<\/p>\n<h2>GBP: Shopping Centre company collapses<\/h2>\n<p>Weaker global risk appetite saw the British pound comes out worse as dollar strengthened as a haven asset. Rising coronavirus cases from Western Germany to Portugal to Australia to Texas saw financial markets take freight, selling perceived riskier currencies in the process.<\/p>\n<p>The long drawn out reopening of the UK economy from lockdown has pulled British shopping centre Intu into administration proceedings. It was unable to agree payment holidays for its \u00a34.5 billion in debt with creditors. Intu had received just 29% of second-quarter rent from retailers in its shopping centres, down from 77% in the same period last year.<\/p>\n<h2>EUR: No new EU Recovery fund plans next week<\/h2>\n<p>A press release on Friday announced that French President Emmanuel Macron and German Chancellor Angela Merkel will not present a new EU recovery fund proposal next week. They are scheduled to meet to discuss options for the fund. They got the ball rolling and are now backing \u2013 and encouraging others to back the EU commission version valued \u20ac750 billion.<\/p>\n<p>EU Commission President von der Leyen said on Friday \u201cWe need a stimulus agreement before the summer holidays.\u201d The next scheduled meeting of European minister is on 17-18 July.<\/p>\n<p>ECB President Lagarde continued the dovish rhetoric heard in ECB minutes in a webinar on Friday, noting \u201cWe probably have passed the lowest point of the crisis. But we are cautious about the possibility of a second wave of infections.\u201d and the \u201cEconomic recovery will be sequential.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is lower against the euro on Friday. Lisbon Portugal &amp; western Germany re-impose localised lockdown Macron \/ Merkel will not present a new EU Recovery Fund proposal UK Shopping centre operator Intu files for administration Pound-euro exchange rate -0.51% GBP\/EUR was down by 65 pips (-0.57%) to 1.1000 as of 3pm GMT. [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":82472,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2772,1393,2410,2915,1391],"class_list":{"0":"post-101504","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-euro","11":"tag-gbp-eur","12":"tag-intu-properties","13":"tag-pound"},"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: Pound below 1.10 Euros for first time in 3-months - 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\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\/\" \/>\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\\\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: Pound below 1.10 Euros for first time in 3-months\",\"datePublished\":\"2020-06-26T15:32:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\\\/\"},\"wordCount\":338,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/usd-inr-forex-exchage-rates.jpg\",\"keywords\":[\"eu recovery fund\",\"euro\",\"gbp\\\/eur\",\"intu properties\",\"pound\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103497-gbp-eur-pound-below-1-10-euros-for-first-time-in-3-months\\\/\",\"name\":\"GBP\\\/EUR: Pound below 1.10 Euros for first time in 3-months - 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