{"id":3848,"date":"2017-07-11T00:00:00","date_gmt":"2017-07-11T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100168-gbp-usd-wait-boe\/"},"modified":"2017-07-11T00:00:00","modified_gmt":"2017-07-11T04:00:00","slug":"100168-gbp-usd-wait-boe","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100168-gbp-usd-wait-boe\/","title":{"rendered":"Sterling Under $1.29, BoE Speakers Take to the Stage"},"content":{"rendered":"<p>Political and economic concerns weighed on the pound on Monday. As a result, the pound-dollar exchange rate fell to $1.2880, a level the pound has not seen since the end of June.<\/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>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. For example, it could be written: <em>1 GBP = 1.28934 USD<\/em> <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> Or, if you were looking at it the other way around: <em>1 USD = 0.77786 GBP<\/em> <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> <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Whilst economic data has been in short supply for the pound at the start of the week, things promise to heat up as the week continues. UK wage data on Wednesday will be of particular interest, as it gives an insight whether households are set to suffer further with rising inflation and slowing wage growth.<\/p>\n<p>In the meantime UK central bank rhetoric could drive price action. Today sees two BoE officials hitting the wires, Haldane and Broadbent. Recent rhetoric from the BoE has been pointing towards a tighter monetary policy for the UK, with the possibility increasing of interest rates being hiked, maybe even before the end of the year. Yet last week\u2019s UK economic data was especially weak, which raises the question as to how the central bank can even consider raising rates.<\/p>\n<p>Of the speakers tomorrow, Haldane is already known to be supportive of an interest rate increase before the end of the year. Broadbent is more conservative, he has not voted for a rate rise in the 6 years that he\u2019s been on the policy committee. Should he join the other BoE members by talking in favour of an increase then the pound could regain lost ground. This is because when interest rate expectations increase so does the currency.<\/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<h2><a href=\"#dollar-adds-to-friday-s-rally\" name=\"dollar-adds-to-friday-s-rally\"><\/a>Dollar adds to Friday\u2019s rally<\/h2>\n<p>The dollar continues to build on gains from Friday after a stronger than expected U.S. jobs report. The next big event for the dollar will be Federal Reserve Chair Janet Yellen\u2019s appearance before Congress on Wednesday. There is no obvious reason as to why she may move away from the current optimistic guidance, especially after Friday\u2019s numbers and the upward revision to May\u2019s jobs data. If Yellen continues with her upbeat outlook of the U.S. economy then this could pave the way for further gains in the dollar.<\/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>Political and economic concerns weighed on the pound on Monday. As a result, the pound-dollar exchange rate fell to $1.2880, a level the pound has not seen since the end of June. What do these figures mean? When measuring the value of a pair of currencies, one set equals 1 unit and the other shows [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3849,"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-3848","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>Sterling Under $1.29, BoE Speakers Take to the Stage - 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\/100168-gbp-usd-wait-boe\/\" \/>\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\\\/100168-gbp-usd-wait-boe\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100168-gbp-usd-wait-boe\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Sterling Under $1.29, BoE Speakers Take to the Stage\",\"datePublished\":\"2017-07-11T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100168-gbp-usd-wait-boe\\\/\"},\"wordCount\":724,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100168-gbp-usd-wait-boe\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100168-gbp-usd-wait-boe.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\\\/100168-gbp-usd-wait-boe\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100168-gbp-usd-wait-boe\\\/\",\"name\":\"Sterling Under $1.29, BoE Speakers Take to the Stage - 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