{"id":3746,"date":"2017-06-20T00:00:00","date_gmt":"2017-06-20T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100117-gbp-eur-boe-speech-today\/"},"modified":"2017-06-20T00:00:00","modified_gmt":"2017-06-20T04:00:00","slug":"100117-gbp-eur-boe-speech-today","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100117-gbp-eur-boe-speech-today\/","title":{"rendered":"GBP\/EUR Tight After First Brexit Talks and Anticipation of BoE Governo"},"content":{"rendered":"<p>In a week with a relatively light economic calendar, investors will be paying close attention to the fundamental events taking centre stage. The pound breathed a sigh of relief as Brexit talks started on time and as investors waited for the Bank of England (BoE) Governor\u2019s address at Mansion House this morning.<\/p>\n<p>On the day that Brexit talks started, the pound exchange rate had a quiet session, edging higher to \u20ac1.1419, with a range of just 50 points. Despite all the surprises and shocks to hit the pound this month, sterling is set to record its smallest monthly range against the euro for three years.<\/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: <em>1 GBP = 1.13990 EUR<\/em> <\/p>\n<p> <em>Here, \u00a31 is equivalent to approximately \u20ac1.14. This specifically measures the pound\u2019s worth against the euro. If the euro 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: <em>1 EUR = 0.87271 GBP<\/em> <\/p>\n<p> <em>In this example, \u20ac1 is equivalent to approximately \u00a30.87. This measures the euro\u2019s worth versus the British pound. If the sterling number gets larger, it\u2019s good news for the euro.<\/em> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Brexit talks kicked off yesterday and, so far, the tone has been constructive, positive and polite, protecting both currencies. EU chief negotiator Michael Barnier stated that the bloc would never work against the UK, showing, as such, that a fair Brexit deal is a real possibility. The UK also quickly gave in to EU demands to sort out the divorce before addressing future trade deals. The pound edged marginally higher versus the euro.<\/p>\n<p>Today BoE Governor Mark Carney will give his address to Mansion House. This was originally due to take place last week but was pushed back following the blaze at Grenfell Tower, London. Mark Carney is expected to use this opportunity to discuss the shock split vote in the BoE monetary policy committee which saw 5 members vote to keep rates on hold and 3 members vote to raise rates. Investors will the watching intently for hints that any other members could change their stance. Any comments suggesting this could be the case may increase hopes of an interest rate increase and boost the pound.<\/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. More local currency used then boosts the demand of that currency, pushing the value higher. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>The euro was going nowhere fast in the previous session. Cheer over French President Macron\u2019s party winning a solid majority in Parliamentary elections came across more prominently in the stock markets than in the euro. The French stock market gained almost 1%, whereas the euro ended the day approximately at the same level versus the pound that it closed on Friday. There is no high impacting data to inject life into the euro today. Only mid-importance German producer price index data, which looks at inflation at a factory level could spark interest,<\/p>\n<table class=\"table table-bordered\">\n<tbody>\n<tr>\n<td>\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>In a week with a relatively light economic calendar, investors will be paying close attention to the fundamental events taking centre stage. The pound breathed a sigh of relief as Brexit talks started on time and as investors waited for the Bank of England (BoE) Governor\u2019s address at Mansion House this morning. On the day [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3747,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394],"class_list":{"0":"post-3746","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-gbp"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR Tight After First Brexit Talks and Anticipation of BoE Governo - 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\/100117-gbp-eur-boe-speech-today\/\" \/>\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\\\/100117-gbp-eur-boe-speech-today\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100117-gbp-eur-boe-speech-today\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR Tight After First Brexit Talks and Anticipation of BoE Governo\",\"datePublished\":\"2017-06-20T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100117-gbp-eur-boe-speech-today\\\/\"},\"wordCount\":752,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100117-gbp-eur-boe-speech-today\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100117-gbp-eur-boe-speech-today.jpg\",\"keywords\":[\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100117-gbp-eur-boe-speech-today\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100117-gbp-eur-boe-speech-today\\\/\",\"name\":\"GBP\\\/EUR Tight After First Brexit Talks and Anticipation of BoE Governo - 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