{"id":101803,"date":"2020-07-09T02:00:05","date_gmt":"2020-07-09T06:00:05","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101803"},"modified":"2022-07-11T17:36:29","modified_gmt":"2022-07-11T16:36:29","slug":"103579-gbp-eur-euro-jumps-as-peripheral-eurozone-borrowing-costs-drop","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103579-gbp-eur-euro-jumps-as-peripheral-eurozone-borrowing-costs-drop\/","title":{"rendered":"GBP\/EUR: Euro Jumps As Peripheral Eurozone Borrowing Costs Drop"},"content":{"rendered":"<ul>\n<li><strong><a href=\"http:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) supported by Chancellor Rishi Sunak\u2019s Summer Statement<\/strong><\/li>\n<li><strong>Brexit mixed messages after Angela Merkel warns little progress has been made in the latest round of Brexit trade talks yet reports on BBC increased hopes of a deal<\/strong><\/li>\n<li><strong><a href=\"http:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) looks ahead to German trade data after upbeat comments from ECB Vice President Luis De Guinodos<\/strong><\/li>\n<li><strong>Borrowing costs for peripheral Europe fall to pre-coronavirus levels<\/strong><\/li>\n<\/ul>\n<p>The <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">Pound Euro exchange rate<\/a> (GBP\/EUR) settled on Tuesday +0.04% at \u20ac1.1132, close to the high of the day. At 05:15 UTC, GBP\/EUR trades -0.1% at \u20ac1.1115.<\/p>\n<p>The Pound experienced a volatile session on Wednesday, picking up off session lows following Chancellor Rishi Sunak \u00a330 billion spending plans to boost the UK economy out of the deepest downturn in 300 years.<\/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>Rishi Sunak spelt out plans help the coronavirus battered economy through cut taxes for homebuyers, and targeted VAT cuts supporting the hospitality and leisure industry and a retention scheme for employers which re-hire workers, among other measures. Rishi Sunak\u2019s plans went down well with investors. Solid fiscal stimulus combined with monetary stimulus should mean that the coronavirus impact is reduced.<\/p>\n<p>Brexit headlines are mixed providing little direction. Germany\u2019s Angela Merkel told the EU to prepare for a no deal Brexit. However, the BBC boosted optimism over \u201cspecial provisions\u201d with Europe over Ireland, suggesting that progress is being made towards an agreement.<\/p>\n<p>The Euro is pushing higher across the board as the cost of borrowing for the Eurozone\u2019s riskiest countries is declining back to levels last seen before the coronavirus crisis. The spread between the German \u2013 Greek yields fell to 1.53, the lowest level since February. Meanwhile the Italian \u2013 German spread also fell to a 4.5 month low.<\/p>\n<p>This means that the bond market is no longer reflecting the stress of the coronavirus crisis. It has been priced out. This is down to the ECB buying up 1.35 trillion of assets as part of its Pandemic Emergency Purchase Programme and its \u20ac20 billion bond buying programme.<\/p>\n<p>The data comes after European Central Bank vice president Luis De Guinodos expressed some optimism surrounding the prospects of economic growth in the region following on from the more upbeat data releases.<\/p>\n<p>Today attention will turn back to the economic calendar with the release of German trade data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) supported by Chancellor Rishi Sunak\u2019s Summer Statement Brexit mixed messages after Angela Merkel warns little progress has been made in the latest round of Brexit trade talks yet reports on BBC increased hopes of a deal Euro (EUR) looks ahead to German trade data after upbeat comments from ECB Vice President Luis De [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5599,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2960,1386,1395,1393,1394,1391,2345],"class_list":{"0":"post-101803","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-bondmarket","10":"tag-brexit","11":"tag-eur","12":"tag-euro","13":"tag-gbp","14":"tag-pound","15":"tag-sunak"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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