{"id":3708,"date":"2017-06-13T00:00:00","date_gmt":"2017-06-13T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100098-gbp-usd-fresh-low-in-7-months\/"},"modified":"2017-06-13T00:00:00","modified_gmt":"2017-06-13T04:00:00","slug":"100098-gbp-usd-fresh-low-in-7-months","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100098-gbp-usd-fresh-low-in-7-months\/","title":{"rendered":"GBP\/USD Sterling at Fresh 7 Month Lows As UK Conservative Upset Still"},"content":{"rendered":"<p>UK political turmoil kept pressure firmly on the pound in the previous session. The pound U.S. dollar exchange rate tumbled from a day\u2019s high of $1.2769 to a low of $1.2639.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>What do these figures mean? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p>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. <\/p>\n<p>For example, it could be written:<\/p>\n<p> <em>1 GBP = 1.28934 USD<\/em> <\/p>\n<p> <em>Here, \u00a31 is equivalent to approximately $1.29. This specifically measures the pound\u2019s worth against the dollar. If the U.S. dollar amount increases in this pairing, it\u2019s positive for the pound.<\/em> <\/p>\n<p>Or, if you were looking at it the other way around:<\/p>\n<p> <em>1 USD = 0.77786 GBP<\/em> <\/p>\n<p> <em>In this example, $1 is equivalent to approximately \u00a30.78. This measures the U.S. dollar\u2019s worth versus the British pound. If the sterling number gets larger, it\u2019s good news for the dollar.<\/em> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>UK Prime Minister Theresa May\u2019s failed attempt to increase the UK Conservatives majority in Parliament has kept sterling at fresh 7 month lows. Prime Minister May has formed a minority government and is currently working out a deal to form a coalition government with Northern Ireland\u2019s Democratic Unionist Party (DUP). There had been a large question mark over whether Theresa May would be able to keep hold of power or whether she would be toppled from within by her own party.<\/p>\n<p>Following a meeting between Theresa May and her backbenchers, the Conservative party seemed to be satisfied with many of May\u2019s answers and, for now, have decided to continue standing with her as Prime Minister. This assurance should likely bring some stability to the pounds selloff. Since the meeting ended yesterday evening, the pound has managed to hold steady versus the dollar, albeit below $1.2700.<\/p>\n<p>Looking ahead to Tuesday, any political developments will be the main driver of sterling price movements, particularly developments regarding the agreement with DUP. Economic data may offer a brief, welcomed distraction on Tuesday with UK inflation figures due for release. With Brexit talks due to begin next week, investors will be keen to see how the UK economy is holding up.<\/p>\n<h2><a href=\"#dollar-holding-firm-ahead-of-u-s-federal-reserve-rate-decision\" name=\"dollar-holding-firm-ahead-of-u-s-federal-reserve-rate-decision\"><\/a>Dollar holding firm ahead of U.S. Federal Reserve rate decision<\/h2>\n<p>The mood towards the dollar has been more buoyant. Despite a lack of high impact U.S. economic data, investors are focusing firmly on Wednesday and the conclusion of the Federal Reserve interest rate decision meeting. The market has put the probability of an interest rate at 99.6%, in other words, almost certain. The Federal Reserve will also offer an insight as to how many more interest rate increases we can expect to see through the rest of this year. Should the Fed indicate two more hikes are on the cards, the buck could push higher. However, should the Fed point towards holding off from any more increases, the dollar could lose value.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why do raised interest rates boost a currency\u2019s value? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Interest rates are key to understanding exchange rate movements. Those who have large sums of money to invest want the highest return on their investments. Higher interest rate environments tend to offer higher yields. So, if the interest rate or at least the interest rate expectation of a country is relatively higher compared to another, then it attracts more foreign capital investment. Large corporations and investors need local currency to invest. So more local currency used then boosts the demand of that currency, pushing its value higher. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p><small><em><br \/>\nThis 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 Inc., Currency Live 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. Consult our <a href=\"https:\/\/currencylive.com\/risk-warning\/\">risk warning<\/a> page for more details.<\/em><\/small><\/p>\n<p><small><em>This article was initially published on TransferWise.com from the same author. The content at Currency Live is the sole opinion of the authors and in no way reflects the views of TransferWise Inc.<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK political turmoil kept pressure firmly on the pound in the previous session. The pound U.S. dollar exchange rate tumbled from a day\u2019s high of $1.2769 to a low of $1.2639. What do these figures mean? When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3709,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1394,1398],"class_list":{"0":"post-3708","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-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 Sterling at Fresh 7 Month Lows As UK Conservative Upset Still - 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\/100098-gbp-usd-fresh-low-in-7-months\/\" \/>\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\\\/100098-gbp-usd-fresh-low-in-7-months\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100098-gbp-usd-fresh-low-in-7-months\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD Sterling at Fresh 7 Month Lows As UK Conservative Upset Still\",\"datePublished\":\"2017-06-13T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100098-gbp-usd-fresh-low-in-7-months\\\/\"},\"wordCount\":747,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100098-gbp-usd-fresh-low-in-7-months\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100098-gbp-usd-fresh-low-in-7-months.jpg\",\"keywords\":[\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100098-gbp-usd-fresh-low-in-7-months\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100098-gbp-usd-fresh-low-in-7-months\\\/\",\"name\":\"GBP\\\/USD Sterling at Fresh 7 Month Lows As UK Conservative Upset Still - 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