{"id":4142,"date":"2017-12-07T00:00:00","date_gmt":"2017-12-07T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100259-gbp-eur-smooth-brexit-deal\/"},"modified":"2017-12-07T00:00:00","modified_gmt":"2017-12-07T05:00:00","slug":"100259-gbp-eur-smooth-brexit-deal","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100259-gbp-eur-smooth-brexit-deal\/","title":{"rendered":"GBP\/EUR: As Hopes For A Smooth Brexit Decline, Pound Lower vs. Euro"},"content":{"rendered":"<p>The pound euro exchange rate had another rollercoaster session on Wednesday, as the Brexit drama continued. The pound tumbled to a session low early on, of \u20ac1.1296, before reversing to a high of \u20ac1.1362.<\/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>Sentiment towards the pound has been falling in recent sessions, given that there has been very little progress over the Irish border issue. The border dispute between Ireland and Northern Ireland is one of the few remaining sticking points which is preventing Brexit divorce talks progressing to post-Brexit trade talks. There has been a considerable amount of back and forth in discussions, with investor hopes building and falling quickly and frequently within a given session.<\/p>\n<p>Should UK Prime Minister Theresa May fail to find a solution to the problem before next week\u2019s deadline, trade and transition deal talks could be pushed further into the distance. This would make a smooth Brexit less likely.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why is a smooth Brexit good for the pound? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>A smoother Brexit would be a scenario in which the economic consequences of leaving the European Union are minimised. This is favourable for the pound because the less the Brexit impact on the economy, the more likely that foreign investors will remain interested in the UK. Foreign investors need sterling to invest in the country and so the more GBP is purchased, the higher the demand and, thus, an increase in the currency\u2019s value. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>The lull in UK economic data continues today, which means that once again pound traders will have little else to distract them from the Brexit dilemma. Any signs that the UK could be judged as having sufficiently progressed the Irish border issue, could see the pound rally. Conversely, headlines pointing to a continued standoff, could pull the pound lower.<\/p>\n<h2><a href=\"#eurozone-gdp-data-in-focus\" name=\"eurozone-gdp-data-in-focus\"><\/a>Eurozone GDP data in focus<\/h2>\n<p>The previous session saw mixed economic data coming from the bloc. Data from Germany, which is often considered the powerhouse of Europe, showed that construction activity fell to a 10-month low. The construction sector had been gaining momentum in previous month, so investors were taken aback by the lower than forecast reading.<\/p>\n<p>The disappointment was quickly overshadowed by industrial order data, which beat analysts\u2019 expectations. Industrial orders increased 0.5% in October significantly above the -0.3% decline predicted. The data showed that there was an increase in both domestic and overseas demand which points to continued economic growth in Germany<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>How does strong jobs data boost the currency? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>It works like this, when there is low unemployment and high job creation, the demand for workers increases. As demand for workers goes up, wages for those workers also go up. Which means the workers are now taking home more money to spend on cars, houses or in the shops. As a result, demand for goods and services also increase, pushing the prices of the good and services higher. That\u2019s also known as inflation. When inflation moves higher, central banks are more likely to raise interest rates, which then pushes the worth of the currency higher. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Today the eurozone GDP figure will be in focus. Analysts are anticipating growth to hold steady at 0.6% quarter on quarter and 2.5% year on year.<\/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>The pound euro exchange rate had another rollercoaster session on Wednesday, as the Brexit drama continued. The pound tumbled to a session low early on, of \u20ac1.1296, before reversing to a high of \u20ac1.1362. What do these figures mean? When measuring the value of a pair of currencies, one set equals 1 unit and the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4143,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1386,1395,1394],"class_list":{"0":"post-4142","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-brexit","10":"tag-eur","11":"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: As Hopes For A Smooth Brexit Decline, Pound Lower vs. Euro - 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\/100259-gbp-eur-smooth-brexit-deal\/\" \/>\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\\\/100259-gbp-eur-smooth-brexit-deal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100259-gbp-eur-smooth-brexit-deal\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: As Hopes For A Smooth Brexit Decline, Pound Lower vs. Euro\",\"datePublished\":\"2017-12-07T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100259-gbp-eur-smooth-brexit-deal\\\/\"},\"wordCount\":807,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100259-gbp-eur-smooth-brexit-deal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100259-gbp-eur-smooth-brexit-deal.jpg\",\"keywords\":[\"Brexit\",\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2017\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100259-gbp-eur-smooth-brexit-deal\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100259-gbp-eur-smooth-brexit-deal\\\/\",\"name\":\"GBP\\\/EUR: As Hopes For A Smooth Brexit Decline, Pound Lower vs. Euro - 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