{"id":102235,"date":"2020-07-22T12:58:38","date_gmt":"2020-07-22T16:58:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102235"},"modified":"2020-07-22T15:56:30","modified_gmt":"2020-07-22T19:56:30","slug":"103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\/","title":{"rendered":"GBP\/EUR: Euro gains as ECB\u2019s Lagarde calls loans\/grants mix in recovery fund \u2018good\u2019"},"content":{"rendered":"<p>The British pound is down against the euro on Wednesday.<\/p>\n<ul>\n<li><strong>Pound dips as sentiment turns cautious before Tesla\/Microsoft earnings<\/strong><\/li>\n<li><strong>Euro gains more ground after Recovery Fund agreement<\/strong><\/li>\n<li><strong>ECB\u2019s Lagarde calls mix of grants and loans in recovery fund \u2018good\u2019<\/strong><\/li>\n<li><strong>UK \u2018working assumption\u2019 is trading on WTO terms with EU &#8211; Telegraph<\/strong><\/li>\n<\/ul>\n<p>GBP\/EUR was lower by 55 pips (-0.49%) to 1.0987 as of 3pm GMT. This week the pound-euro exchange rate is just lower by -0.13%.<\/p>\n<p>The currency pair slid below 1.105 in early trading and hit lows of 1.095 before rebounding to just under 1.10. Yesterday it fell -0.16%.<\/p>\n<h2>GBP: Telegraph pours cold water on idea of UK\/EU trade deal<\/h2>\n<p>Broader sentiment was distinctly shakier with a big test for investor coming after the close on Wall Street when Tesla and Microsoft report quarterly earnings.<\/p>\n<p>An article in the Daily Telegraph seems to have played a role in Sterling weakness today. According to the broadsheet newspaper the UK government is working on the assumption that a deal cannot be done in time for the Prime Minister\u2019s July deadline. Negotiators are still in deadlock over fishing rights, governance, the role of the European Court of Justice (ECJ) and so-called level playing field guarantees, the newspaper reported.<\/p>\n<p>A spokesperson for the Prime Minister later said \u201cwe remain committed to agreeing with the EU the outline for a balanced post Brexit agreement.\u201d And that the \u201cUK has not put a specific time frame on getting a trade deal with the US.\u201d<\/p>\n<h2>EUR: LaGarde pleased with EU Recovery Deal<\/h2>\n<p>ECB President Christine Lagarde was commenting on the new EU Recovery deal agreed yesterday. She said the \u201dLoan and grant\u00a0mixes are good\u2026 It\u00a0could have been better, but it\u00a0is reasonable.\u201d<\/p>\n<p>As a\u00a0 reminder on Tuesday, EU leaders agreed a\u00a0 \u20ac750 billion rescue package and an over \u20ac1 trillion 7-year budget. The Recovery fund will include \u20ac360 billion in loans and \u20ac390 billion in grants that don\u2019t need to be repaid. The key point that has captivated the imagination of investors is that the money will be raised collectively by the EU Commission selling bonds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is down against the euro on Wednesday. Pound dips as sentiment turns cautious before Tesla\/Microsoft earnings Euro gains more ground after Recovery Fund agreement ECB\u2019s Lagarde calls mix of grants and loans in recovery fund \u2018good\u2019 UK \u2018working assumption\u2019 is trading on WTO terms with EU &#8211; Telegraph GBP\/EUR was lower by [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":3775,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1393,2410,2664,1391,2769,1403],"class_list":{"0":"post-102235","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-euro","10":"tag-gbp-eur","11":"tag-lagarde","12":"tag-pound","13":"tag-recovery-fund","14":"tag-trade-deal"},"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 gains as ECB\u2019s Lagarde calls loans\/grants mix in recovery fund \u2018good\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\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\/\" \/>\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\\\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: Euro gains as ECB\u2019s Lagarde calls loans\\\/grants mix in recovery fund \u2018good\u2019\",\"datePublished\":\"2020-07-22T16:58:38+00:00\",\"dateModified\":\"2020-07-22T19:56:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\\\/\"},\"wordCount\":364,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100131-eur-usd-ecb-low-inflation.jpg\",\"keywords\":[\"euro\",\"gbp\\\/eur\",\"lagarde\",\"pound\",\"recovery fund\",\"trade deal\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103674-gbp-eur-euro-gains-as-ecbs-lagarde-calls-loans-grants-mix-in-recovery-fund-good\\\/\",\"name\":\"GBP\\\/EUR: Euro gains as ECB\u2019s Lagarde calls loans\\\/grants mix in recovery fund \u2018good\u2019 - 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