{"id":3336,"date":"2019-08-07T10:31:45","date_gmt":"2019-08-07T14:31:45","guid":{"rendered":"https:\/\/currencylive.com\/?p=3336"},"modified":"2019-08-08T06:53:11","modified_gmt":"2019-08-08T10:53:11","slug":"101075-gbp-usd-pound-pares-gains","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/","title":{"rendered":"GBP\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson’s Future"},"content":{"rendered":"

The pound gained ground versus the dollar in the previous session. The pound US dollar exchange rate increased 0.2% closing at US$1.2170 overnight. The pound is seen giving back some of those gains in early trade on Wednesday.<\/span><\/p>\n\n\n\n\n
What do these figures mean?<\/b><\/td>\n<\/tr>\n
When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/span><\/p>\n

For example, it could be written:<\/span><\/p>\n

1 GBP = 1.28934 USD<\/span><\/i><\/p>\n

Here, \u00a31 is equivalent to approximately $1.29. This specifically measures the pound\u2019s worth against the dollar. If the US dollar amount increases in this pairing, it\u2019s positive for the pound.\u00a0<\/span><\/p>\n

Or, if you were looking at it the other way around:<\/span><\/p>\n

1 USD = 0.77786 GBP<\/span><\/i><\/p>\n

In this example, $1 is equivalent to approximately \u00a30.78. This measures the US dollar\u2019s worth versus the British pound. If the sterling number gets larger, it\u2019s good news for the dollar.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The pound moved broadly higher in the previous session even as Brexit fears lingered. UK Prime Minister Boris Johnson remains set on leaving the EU on the 31<\/span>st<\/span> October with or without a deal. Both the UK and the EU are digging their heels in over the Withdrawal Deal. The EU now consider a no deal Brexit to be the most likely outcome.<\/span><\/p>\n

However, the pound found support on Tuesday from the prospect of a cross party coalition government being formed with the sole purpose of requesting an extension to the UK\u2019s departure from the EU, should Boris Johnson lose a confidence vote this autumn.<\/span><\/p>\n

The Prime Minister is preparing to face a challenge from Remainer MP\u2019s in early Autumn after politician return from summer recess. Whilst additionally political instability is not usually supportive of the pound, in this case it could prevent a disorderly Brexit.<\/span><\/p>\n\n\n\n\n
Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit?<\/b><\/td>\n<\/tr>\n
A soft Brexit implies anything less than UK\u2019s complete withdrawal from the EU. For example, it could mean the UK retains some form of membership to the European Union single market in exchange for some free movement of people, i.e. immigration. This is considered more positive than a \u201chard\u201d Brexit, which is a full severance from the EU. The reason \u201csoft\u201d is considered more pound-friendly is because the economic impact would be lower. If there is less negative impact on the economy, foreign investors will continue to invest in the UK. As investment requires local currency, this increased demand for the pound then boosts its value.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Today the only UK economic data to be released will be Halifax house price figures. Higher house prices can give an indication of a more confident consumer and a stronger economy, meanwhile falling house prices indicate a weaker economy.<\/span><\/p>\n

Dollar Rises On Increased Safe Haven Flows<\/span><\/h2>\n

The dollar moved higher in early trade on Wednesday as investors looked towards the greenback for its safe haven qualities. Overnight the Reserve Bank of New Zealand cut interest rates by more than expected stunning investors. The move by the RBA highlights the growing concern that policy makers have over the health of the global economy, the global growth outlook amid the ongoing US \u2014 Sino trade dispute.<\/span><\/p>\n

With little in the way of high impacting economic data due to be released for the US, the focus will remain very much on any developments in the US Sino trade tensions. There is still little clarity as to where the ongoing saga is going after Trump labelled China a currency manipulator. China has responded by steadying its currency after allowing it to devalue to the weakest level in over a decade.<\/span><\/p>\n

\n

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
\nThe content at CurrencyLive.com is the sole opinion of the authors and in no way reflect views of TransferWise Ltd.<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

The pound gained ground versus the dollar in the previous session. The pound US dollar exchange rate increased 0.2% closing at US$1.2170 overnight. The pound is seen giving back some of those gains in early trade on Wednesday. What do these figures mean? When measuring the value of a pair of currencies, one set equals […]<\/p>\n","protected":false},"author":163946597,"featured_media":3085,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1396,1386,1399,1394,1391,1392,1400,1397,1398],"class_list":{"0":"post-3336","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-boris-johnson","10":"tag-brexit","11":"tag-china","12":"tag-gbp","13":"tag-pound","14":"tag-sterling","15":"tag-trump","16":"tag-us-dollar","17":"tag-usd"},"acf":[],"yoast_head":"\nGBP\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson's Future - 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\/101075-gbp-usd-pound-pares-gains\/\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson’s Future\",\"datePublished\":\"2019-08-07T14:31:45+00:00\",\"dateModified\":\"2019-08-08T10:53:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/\"},\"wordCount\":755,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100026-gbp-up-global-economy-usd-down.jpg\",\"keywords\":[\"boris johnson\",\"Brexit\",\"china\",\"gbp\",\"pound\",\"sterling\",\"trump\",\"us dollar\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/\",\"name\":\"GBP\\\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson's Future - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100026-gbp-up-global-economy-usd-down.jpg\",\"datePublished\":\"2019-08-07T14:31:45+00:00\",\"dateModified\":\"2019-08-08T10:53:11+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100026-gbp-up-global-economy-usd-down.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100026-gbp-up-global-economy-usd-down.jpg\",\"width\":800,\"height\":405,\"caption\":\"GBP\\\/USD Dollar Weakens as World Economy More Optimistic\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101075-gbp-usd-pound-pares-gains\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson’s Future\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/fiona-cincotta-bb4a4845\\\/\"],\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/fiona-cincotta\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson's Future - 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\/101075-gbp-usd-pound-pares-gains\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"GBP\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson’s Future","datePublished":"2019-08-07T14:31:45+00:00","dateModified":"2019-08-08T10:53:11+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/"},"wordCount":755,"image":{"@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100026-gbp-up-global-economy-usd-down.jpg","keywords":["boris johnson","Brexit","china","gbp","pound","sterling","trump","us dollar","usd"],"articleSection":["GBP","USD"],"inLanguage":"en-US","copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/","url":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/","name":"GBP\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson's Future - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100026-gbp-up-global-economy-usd-down.jpg","datePublished":"2019-08-07T14:31:45+00:00","dateModified":"2019-08-08T10:53:11+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100026-gbp-up-global-economy-usd-down.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100026-gbp-up-global-economy-usd-down.jpg","width":800,"height":405,"caption":"GBP\/USD Dollar Weakens as World Economy More Optimistic"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/101075-gbp-usd-pound-pares-gains\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/USD: Pound Pares Gains Even As Doubts Grow Over PM Johnson’s Future"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec","name":"Fiona Cincotta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","caption":"Fiona Cincotta"},"description":"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.","sameAs":["https:\/\/www.linkedin.com\/in\/fiona-cincotta-bb4a4845\/"],"url":"https:\/\/currencylive.com\/news\/author\/fiona-cincotta\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100026-gbp-up-global-economy-usd-down.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/3336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946597"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=3336"}],"version-history":[{"count":5,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/3336\/revisions"}],"predecessor-version":[{"id":3342,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/3336\/revisions\/3342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/3085"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=3336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=3336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=3336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}