{"id":101581,"date":"2020-06-30T12:05:55","date_gmt":"2020-06-30T16:05:55","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101581"},"modified":"2020-06-30T12:39:52","modified_gmt":"2020-06-30T16:39:52","slug":"103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\/","title":{"rendered":"GBP\/EUR: Pound jumps on Boris Johnson\u2019s \u2018FDR Spending Blitz\u2019"},"content":{"rendered":"<p>The <a href=\"https:\/\/currencylive.com\/news\/currency\/gbp\/\">British pound<\/a> is up against the <a href=\"https:\/\/currencylive.com\/news\/currency\/eur\/\">euro<\/a> on Tuesday.<\/p>\n<ul>\n<li><strong>UK PM Boris Johnson touts \u2018New Deal\u2019 recovery plan<\/strong><\/li>\n<li><strong>Q1 UK GDP sees biggest decline since 1979<\/strong><\/li>\n<li><strong>EU extends travel ban on United States<\/strong><\/li>\n<li><strong>Pound-euro exchange rate +0.12% this week<\/strong><\/li>\n<\/ul>\n<p>GBP\/EUR was higher by 74 pips (+0.67%) at 1.1010 as of 3pm GMT.<\/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<p>The currency pair held onto yesterday\u2019s low near 1.09 and rallied back over 1.10 in afternoon trading. Yesterday it had fallen -0.50%.<\/p>\n<h2>GBP: Johnson Promises new Deal<\/h2>\n<p>While UK investors were clamouring for the safety of government debt and pushing bond yields lower in the process, the pound was firming against the euro. FX markets had a more risk on tone with a mostly weaker US dollar, which helped Sterling.<\/p>\n<p>The British Prime Minister gave a speech on Tuesday promising \u00a35 billion in spending in a \u201cnew deal\u201d &#8211; like the name giver to American President FDRs regime in the 1930s &#8211; to build homes and more infrastructure. There is no extra spending beyond previous pledges but the message is clear that the UK will not return to austerity as a response to the pandemic.<\/p>\n<p>On Tuesday, the final estimate for first quarter GDP dropped below previous estimates to -2.2% &#8211; that\u2019s the biggest decline in over 40 years. The pound has mostly already discounted huge growth declines in Q1 and Q2. The big question moving forward is about the extent of the rebound in Q3.<\/p>\n<h2>Eur: Europe extends US travel ban<\/h2>\n<p>The European released its recommended list of \u2018coronavirus-friendly\u2019 nations for safe travel on Tuesday. The list includes Japan, Canada, South Korea, Australia and New Zealand.<\/p>\n<p>A lot of the focus was on one key omission &#8211; the United States. Given the rising infection rate in many US States, and the fact that travellers from Europe are not allowed into the United States meant the US was not even on the short-list.<\/p>\n<p>After improvement in national CPI numbers- the Eurozone-wide CPI rose to +0.3% year-over-year in June, up from 0.1% in May- and avoiding a trip into deflation (below 0%).<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is up against the euro on Tuesday. UK PM Boris Johnson touts \u2018New Deal\u2019 recovery plan Q1 UK GDP sees biggest decline since 1979 EU extends travel ban on United States Pound-euro exchange rate +0.12% this week GBP\/EUR was higher by 74 pips (+0.67%) at 1.1010 as of 3pm GMT. The currency [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":99955,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2928,2927,1393,2410,1391,1392],"class_list":{"0":"post-101581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-boris-fdr","10":"tag-boris-new-deal","11":"tag-euro","12":"tag-gbp-eur","13":"tag-pound","14":"tag-sterling"},"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 jumps on Boris Johnson\u2019s \u2018FDR Spending Blitz\u2019 - 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\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\/\" \/>\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\\\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: Pound jumps on Boris Johnson\u2019s \u2018FDR Spending Blitz\u2019\",\"datePublished\":\"2020-06-30T16:05:55+00:00\",\"dateModified\":\"2020-06-30T16:39:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\\\/\"},\"wordCount\":378,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/05\\\/boris-Johnson-1.jpg\",\"keywords\":[\"boris fdr\",\"boris new deal\",\"euro\",\"gbp\\\/eur\",\"pound\",\"sterling\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103518-gbp-eur-pound-jumps-on-boris-johnsons-fdr-spending-blitz\\\/\",\"name\":\"GBP\\\/EUR: Pound jumps on Boris Johnson\u2019s \u2018FDR Spending Blitz\u2019 - 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