{"id":105941,"date":"2020-10-19T07:30:17","date_gmt":"2020-10-19T06:30:17","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105941"},"modified":"2020-10-19T07:30:17","modified_gmt":"2020-10-19T06:30:17","slug":"104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\/","title":{"rendered":"GBP\/INR: Pound Increases Slightly on Fragile Brexit Hopes"},"content":{"rendered":"<p><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-inr-exchange-rate-today\/\">GBP\/INR<\/a> is somewhat bullish in early trading on Monday, but the price continues to trade within a horizontal channel that formed in mid-September. At the time of writing, the pair is up 0.10% to 95.000 as of 6:05 AM UTC. The price is facing some resistance at 95.000, aiming to break above it and update the monthly high near 96.000.<\/p>\n<p>Brexit trade talks remain the main driving force behind the GBP\/INR price moves. On Friday, UK Prime Minister Boris Johnson said that the European Union should be ready for a no-deal divorce. However, the two sides might attempt to rescue the deal this week. The <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">pound<\/a> found some support after senior minister Michael Gove admitted the UK\u2019s door was still open for a deal if Europe accepts to compromise.<\/p>\n<p>EU and UK chief negotiators Michel Barnier and David Frost will discuss the structure of future talks by phone later today.<\/p>\n<p>Negotiations took a nosedive on Thursday when the EU said Britain had to accept big concessions and comply with the Withdrawal Agreement signed last year. The pound fell 0.50% in pair with the <a href=\"https:\/\/currencylive.com\/exchange-rate\/inr-indian-rupee-live-exchange-rate\/\">rupee<\/a> at that point.<\/p>\n<p>Despite everything, Gove <a href=\"https:\/\/www.reuters.com\/article\/britain-eu\/britain-and-eu-to-try-to-rescue-post-brexit-trade-talks-idUSKBN27404V\">expressed<\/a> some optimism yesterday. He said:<\/p>\n<p>\u201c<em>We hope that the EU will change their position; we&#8217;re certainly not saying if they do change their position that we can&#8217;t talk to them.\u201d<\/em><\/p>\n<h2>No Side Is Ready for Concessions<\/h2>\n<p>On the other side, German Chancellor Angela Merkel and French President Emmanuel Macron said that a deal is possible, but not at any price.<\/p>\n<p>Gove <a href=\"https:\/\/www.reuters.com\/article\/us-britain-eu-gove-idUSKBN273003\">said<\/a> in an opinion post in the Sunday Times that he didn\u2019t prefer a no-deal outcome, \u201c<em>but if the choice is between arrangements that tie our hands indefinitely, or where we can shape our own future, then that&#8217;s no choice at all. And leaving on Australian terms is an outcome for which we are increasingly well prepared.\u201d<\/em><\/p>\n<p>Recently, Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-18\/u-k-could-rewrite-lawbreaking-brexit-bill-as-part-of-eu-deal\">reported<\/a> that Britain could rewrite its Internal Market Bill, which now passes through parliament, as part of a deal with the EU. It remains to be seen if the new changes to a law that overrides the current treaty please Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/INR is somewhat bullish in early trading on Monday, but the price continues to trade within a horizontal channel that formed in mid-September. At the time of writing, the pair is up 0.10% to 95.000 as of 6:05 AM UTC. The price is facing some resistance at 95.000, aiming to break above it and update [&hellip;]<\/p>\n","protected":false},"author":163946609,"featured_media":83913,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[1475,1394,1861,1666],"class_list":{"0":"post-105941","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-brexit-talks","10":"tag-gbp","11":"tag-gbp-inr","12":"tag-inr"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/INR: Pound Increases Slightly on Fragile Brexit Hopes - 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\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\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\\\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"headline\":\"GBP\\\/INR: Pound Increases Slightly on Fragile Brexit Hopes\",\"datePublished\":\"2020-10-19T06:30:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\\\/\"},\"wordCount\":359,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/exchange-rates-gbp-inr.jpg\",\"keywords\":[\"Brexit talks\",\"gbp\",\"gbp\\\/inr\",\"inr\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104577-gbp-inr-pound-increases-slightly-on-fragile-brexit-hopes\\\/\",\"name\":\"GBP\\\/INR: Pound Increases Slightly on Fragile Brexit Hopes - 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