{"id":113227,"date":"2022-10-17T07:30:40","date_gmt":"2022-10-17T06:30:40","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=113227"},"modified":"2022-10-17T05:27:33","modified_gmt":"2022-10-17T04:27:33","slug":"107306-gbp-eur-pound-rises-after-hunt-soothes-the-market","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/","title":{"rendered":"GBP\/EUR: Pound rises after Chancellor Hunt soothes the market"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rebounds after steep losses<\/strong><\/li>\n<li><strong>The Chancellor and BoE appear more aligned<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) falls after strong gains on Friday<\/strong><\/li>\n<li><strong>Italian CPI data is due<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising, paring losses from Friday. The pair fell 0.84% at the end of last week, settling at \u20ac1.1488 after trading in a range between \u20ac1.1466 &#8211; \u20ac1.1616 across the session. At 05:45 UTC, GBP\/EUR trades +0.35% at \u20ac1.1525.<\/p>\n<p>The pound fell on Friday after Prime Minister Liz Truss sacked Chancellor Kwasi Kwarteng. She then made a second U-turn on the mini-budget, rolling back the corporation tax cut. However, the market didn\u2019t think she went far enough, and still leaves a huge black hole of almost \u00a330 billion in unfunded tax cuts.<\/p>\n<p>Over the weekend, the newly appointed Chancellor Jeremy Hunt attempted to soothe the markets and also had a productive meeting with the Bank of England Governor Andrew Bailey, where both agreed on the importance of fiscal sustainability.<\/p>\n<p>This appears to be enough to shore up the markets for now as Hunt attempts to bring some creditability back to the UK economic outlook. \u00a0Confidence in the UK economy has been hit hard, and it will take time to repair. However, the BoE supporting the Chancellor appears to be a step in the right direction.<\/p>\n<p>There is no high-impacting UK economic data due to be released today. Later in the week, UK inflation data will be in focus and is expected to rise again.<\/p>\n<p>The euro rose on Friday after data showed that German wholesale inflation continued rising in September. Wholesale inflation jumped to 19.9% year on year, up from 18.4% annually in August. The data, which is often considered a lead indicator for consumer prices, suggests that CPI inflation will continue rising.<\/p>\n<p>Today there is no high-impacting eurozone data due to be released. Mid-tier Italian inflation data could catch the eye of investors. It is expected to confirm the 9.5% year-on-year preliminary reading.<\/p>\n<p>Looking ahead, on Tuesday, German ZEW economic sentiment data is due to be released.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rebounds after steep losses The Chancellor and BoE appear more aligned Euro (EUR) falls after strong gains on Friday Italian CPI data is due The Pound Euro (GBP\/EUR) exchange rate is rising, paring losses from Friday. The pair fell 0.84% at the end of last week, settling at \u20ac1.1488 after trading in a [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":4610,"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-113227","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 rises after Chancellor Hunt soothes the market - 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\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/\" \/>\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\\\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound rises after Chancellor Hunt soothes the market\",\"datePublished\":\"2022-10-17T06:30:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\\\/\"},\"wordCount\":343,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100499-gbp-eur-theresa-may-politics.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\\\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\\\/\",\"name\":\"GBP\\\/EUR: Pound rises after Chancellor Hunt soothes the market - 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Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/ileana-ionescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/EUR: Pound rises after Chancellor Hunt soothes the market - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/","twitter_misc":{"Written by":"Ileana Ionescu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/"},"author":{"name":"Ileana Ionescu","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"headline":"GBP\/EUR: Pound rises after Chancellor Hunt soothes the market","datePublished":"2022-10-17T06:30:40+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/"},"wordCount":343,"image":{"@id":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100499-gbp-eur-theresa-may-politics.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\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/","url":"https:\/\/currencylive.com\/news\/107306-gbp-eur-pound-rises-after-hunt-soothes-the-market\/","name":"GBP\/EUR: Pound rises after Chancellor Hunt soothes the market - 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