{"id":105702,"date":"2020-10-08T18:31:11","date_gmt":"2020-10-08T17:31:11","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105702"},"modified":"2020-10-09T06:29:45","modified_gmt":"2020-10-09T05:29:45","slug":"104498-gbp-usd-1-30-elusive-as-brexit-weighs","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\/","title":{"rendered":"GBP\/USD 1.30 Elusive As Brexit Weighs"},"content":{"rendered":"<ul>\n<li><strong>GBP\/USD advances following optimistic comments from Bailey on the economy.<\/strong><\/li>\n<li><strong>Brexit talks are deadlocked, progress in talks are unlikely this week<\/strong><\/li>\n<li><strong>Thursday&#8217;s four-hour chart is painting a mixed picture.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bank of England Governor Andrew Bailey, said that\u00a0 he doesn\u2019t not expect the economic impact of the second wave of coronavirus to be as damaging as\u00a0 in the spring.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The more upbeat outlook from Mr Bailey is lifting the Pound towards 1.30. However, this level could prove to be a challenge.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bailey reiterated that the BoE still has fire power -a hint towards negative rates, a weight which has hung over the Pound in the past. BoE governor, added, in a separate interview that coronavirus is bringing significant uncertainty.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Pound is also focused on Brexit \u2013 and headlines have been less encouraging. The British government will reportedly walk away from talks if bare boned deal is not outlined by October 15, at the EU Summit<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This could just be the UK government\u2019s posturing, pushing the EU towards concessions. State aid and fisheries \u2013 a sector worth less than 1% of the UK economy, but means a lot politically are still the main sticking points. There is a good chance that talks will be extended but that won\u2019t be announced yet.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile safe-haven US dollar is out of favour on hopes that Republicans and Democrats will agree a fiscal stimulus package. President Trump ended talks on Tuesday and is looking towards smaller bills.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Democrats and a large package are being supported by the public, but any adverse headline could boost USD.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Who will be the next in the White House? Investors are more concerned with stimulus plans.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Large scale fiscal stimulus is expected after the elections. Joe Biden is extending his lead in the polls against President Trump by around 10%crucouly key battleground 10%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mike Pence, clashed with Senator Kamala Harris in a more civil VP debate. Both debated topics rather than presenting their own case. Given that Trump and Biden are elderly\u00a0 the VP could be forced to step in. There was no clear winner but the impact on voting is not expected to be great either.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Federal Reserve support more stimulus but are unlikely to move before the elections, the minutes to the latest meeting showed. Lower rates for longer but no mention of new monetary support.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Weekly jobless claims are in focus. A minor fall is forecast amid a very the gradual recovery from the crisis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Brexit and fiscal stimulus headlines are to drive GBP\/USD, most likely lower.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/USD advances following optimistic comments from Bailey on the economy. Brexit talks are deadlocked, progress in talks are unlikely this week Thursday&#8217;s four-hour chart is painting a mixed picture. Bank of England Governor Andrew Bailey, said that\u00a0 he doesn\u2019t not expect the economic impact of the second wave of coronavirus to be as damaging as\u00a0 [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5647,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1394,1888,1398],"class_list":{"0":"post-105702","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-gbp","10":"tag-gbp-usd","11":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD 1.30 Elusive As Brexit Weighs - 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\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\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\\\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD 1.30 Elusive As Brexit Weighs\",\"datePublished\":\"2020-10-08T17:31:11+00:00\",\"dateModified\":\"2020-10-09T05:29:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\\\/\"},\"wordCount\":427,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100663-gbp-usd-pound-lacks-drivers.jpg\",\"keywords\":[\"gbp\",\"gbp\\\/usd\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104498-gbp-usd-1-30-elusive-as-brexit-weighs\\\/\",\"name\":\"GBP\\\/USD 1.30 Elusive As Brexit Weighs - 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