{"id":113162,"date":"2022-09-30T09:39:32","date_gmt":"2022-09-30T08:39:32","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=113162"},"modified":"2022-10-11T06:11:31","modified_gmt":"2022-10-11T05:11:31","slug":"107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\/","title":{"rendered":"GBP\/EUR: Pound extends rally as GDP rises"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) extends recovery after stronger GDP<\/strong><\/li>\n<li><strong>Confidence returning after BoE support<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls after French inflation dips<\/strong><\/li>\n<li><strong>Eurozone inflation data is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising for a second straight session. The pair settled +1.2% higher yesterday at \u20ac1.1321 after trading in a range between \u20ac1.1133 &#8211; \u20ac1.1341 across the session. At 08:45 UTC, GBP\/EUR trades +0.46% at \u20ac1.1373. The pair is set to rise 2% across the week<\/p>\n<p>The pound rises after better-than-expected economic growth in the second quarter. In the April to June quarter, the economy grew 0.2% quarter on quarter, upwardly revised from -0.1% contraction.<\/p>\n<p>The unexpected growth means that the UK economy isn\u2019t yet in recession, although it is still likely to tip into recession with negative growth expected in the third and fourth quarters of the year.<\/p>\n<p>The rise of the pound means that it is now trading roughly where it was before Chancellor Kwasi Kwarteng\u2019s mini-budget which unleashed turmoil into the financial markets. This is thanks to much stronger yield support after the BoE stepped into the gilt market to stabilize it.<\/p>\n<p>Furthermore, BoE chief economist Huw Pil said earlier in the week hinted at a significant policy move from the BoE in November, lifting sterling<\/p>\n<p>This week has seen extreme volatility in the pound, and there are reports surfacing that Liz Truss is coming under pressure from her own party to U-turn on the new measures, but so far, she has stood strong, refusing to move an inch.<\/p>\n<p>The euro trades lower after a surprise weakening in French inflation. The consumer price index cooled in the eurozone\u2019s second-largest economy in September to 6.2% annually, down from 6.6%. This comes after German inflation data yesterday jumped to a 70-year high of 10.9% annually.<\/p>\n<p>The diverging picture for inflation highlights the challenges that the European Central Bank has ahead of its next policy meeting in October.<\/p>\n<p>Looking ahead, eurozone-wide inflation is expected to rise to 9.7% year on year, up from 9.1% and a new record high. H<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) extends recovery after stronger GDP Confidence returning after BoE support Euro (EUR) falls after French inflation dips Eurozone inflation data is due The Pound Euro (GBP\/EUR) exchange rate is rising for a second straight session. The pair settled +1.2% higher yesterday at \u20ac1.1321 after trading in a range between \u20ac1.1133 &#8211; \u20ac1.1341 across [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-113162","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound extends rally as GDP rises - 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\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound extends rally as GDP rises\",\"datePublished\":\"2022-09-30T08:39:32+00:00\",\"dateModified\":\"2022-10-11T05:11:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\\\/\"},\"wordCount\":339,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100441-gbp-eur-dovish-sounding-boe.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107289-gbp-eur-pound-extends-rally-as-boe-helps-confidence\\\/\",\"name\":\"GBP\\\/EUR: Pound extends rally as GDP rises - 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