{"id":102285,"date":"2020-07-23T12:53:13","date_gmt":"2020-07-23T16:53:13","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=102285"},"modified":"2020-07-23T13:03:47","modified_gmt":"2020-07-23T17:03:47","slug":"103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\/","title":{"rendered":"GBP\/EUR: Pound dips as Barnier says EU\/UK trade deal \u201cstill far away\u201d"},"content":{"rendered":"<p>The British pound is down against the euro on Thursday.<\/p>\n<ul>\n<li><strong>Barnier on trade deal: \u201cWe are still far away\u201d<\/strong><\/li>\n<li><strong>Frost on post-Brexit: \u201cSubstantial areas of disagreement\u201d<\/strong><\/li>\n<li><strong>Rise in US initial jobless claims dampens investor sentiment<\/strong><\/li>\n<li><strong>Rise in Eurozone Consumer confidence tails off<\/strong><\/li>\n<\/ul>\n<p>GBP\/EUR was lower by 29 pips (-0.25%) to 1.10974 as of 3pm GMT.<\/p>\n<p>The currency pair wasn\u2019t able to hold onto 1.10 and slid around 30 pips before consolidating between breakeven levels and lows of the day.<\/p>\n<h2>GBP: Lack of post-Brexit progress hits pound<\/h2>\n<p>After what felt like more optimism toward Brexit talks in recent weeks, the mood seems to have turned a little more solemn. The UK and EU chief negotiators were both out commenting on the progress of negotiations today. There was a common message that both sides remain far apart on some key issues. With a deal still not in sight, it is the British pound that tends to suffer in foreign exchange markets and not the euro.<\/p>\n<p>The EU\u2019s Michel Barnier has said \u201cwe are still far away in negotiations with the UK\u201d adding that there was no progress on a level playing field or fisheries.<\/p>\n<p>From a UK perspective a senior UK official on Brexit said they expect talks to continue in the second half of August and into September and that there is no formal cut off date for talks and summarising by saying \u201cwe are equally close to breakthrough and breakdown in negotiations.\u201d<\/p>\n<h2>EUR: Euro holds up as US jobless claims snap streak<\/h2>\n<p>The euro was overall losing some momentum driven by this week\u2019s agreement on an EU Recovery fund. EUR\/USD has stalled near 1.16.<\/p>\n<p>Still, as broader sentiment soured and European stock markets ended mixed, the pound suffered more than the euro. A contributor to the weaker sentiment was US weekly unemployment stats. Initial US jobless claims rose by 1,416,000 versus the 1,300,000 estimated. It ended a streak of 15 consecutive weeks of declining initial claims, raising alarms that the labour market recovery has stalled.<\/p>\n<p>On the economic data front, EU\u00a0consumer confidence data for July 2020 unexpectedly fell to -15.0 from the -14.7 in June when -12.0 had been estimated. The index bottomed in April at -22.0.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British pound is down against the euro on Thursday. Barnier on trade deal: \u201cWe are still far away\u201d Frost on post-Brexit: \u201cSubstantial areas of disagreement\u201d Rise in US initial jobless claims dampens investor sentiment Rise in Eurozone Consumer confidence tails off GBP\/EUR was lower by 29 pips (-0.25%) to 1.10974 as of 3pm GMT. [&hellip;]<\/p>\n","protected":false},"author":163946608,"featured_media":5739,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2764,1386,2410,1479,2691],"class_list":{"0":"post-102285","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-barnier","10":"tag-brexit","11":"tag-gbp-eur","12":"tag-trade-talks","13":"tag-us-jobless-claims"},"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 dips as Barnier says EU\/UK trade deal \u201cstill far away\u201d - 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\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\/\" \/>\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\\\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: Pound dips as Barnier says EU\\\/UK trade deal \u201cstill far away\u201d\",\"datePublished\":\"2020-07-23T16:53:13+00:00\",\"dateModified\":\"2020-07-23T17:03:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\\\/\"},\"wordCount\":378,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/gbp-eur-UK-Inflation-Impress.jpg\",\"keywords\":[\"barnier\",\"Brexit\",\"gbp\\\/eur\",\"trade talks\",\"US Jobless claims\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103684-gbp-eur-pound-dips-as-barnier-says-eu-uk-trade-deal-still-far-away\\\/\",\"name\":\"GBP\\\/EUR: Pound dips as Barnier says EU\\\/UK trade deal \u201cstill far away\u201d - 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