{"id":4554,"date":"2018-05-10T00:00:00","date_gmt":"2018-05-10T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100467-gbp-eur-boe-super-thursday\/"},"modified":"2018-05-10T00:00:00","modified_gmt":"2018-05-10T04:00:00","slug":"100467-gbp-eur-boe-super-thursday","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100467-gbp-eur-boe-super-thursday\/","title":{"rendered":"GBP\/EUR: Pound To Climb Higher vs. Euro On BoE&#8217;s Super Thursday?"},"content":{"rendered":"<p>The economic calendar on Wednesday was once again rather empty leaving investors to focus on the Bank of England interest rate decision today. The pound euro exchange rate continued to climb steadily higher , hitting a peak of \u20ac1.1458 in its third straight winning session.<\/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>The Bank of England will release its interest rate decision today, in addition to the quarterly inflation report and economic forecasts. Just one month ago the probability of a rate hike by the BoE was sitting at around 90%. However, after a month of souring UK economic data, the probability has sunk to just 10%.<\/p>\n<p>UK inflation fell closer towards the central banks\u2019 target and UK economic growth was a lacklustre 0.1% quarter on quarter, its weakest level since 2012. These numbers will almost certainly convince the BoE\u2019s Monetary Policy Committee (MPC) that the economy is too weak to handle a rate hike immediately. As investors are not expecting the BoE to increase rates, it will be more a case of what the central bank says, rather than what is does that determines the direction of the pound. Therefore, investors will pay close attention to the accompanying statement, press conference and revised growth forecasts. Investors will want to see the central bank minimize recent bad data and keep the option of a rate hike later in the year firmly on the table.<\/p>\n<p>Any signs of optimism from the central bank could kick the pound higher. On the other hand, a cautious sounding BoE, which considers weak data as the new norm, could drag sterling lower.<\/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=\"#euro-falls-on-dollar-popularity\" name=\"euro-falls-on-dollar-popularity\"><\/a>Euro Falls On Dollar Popularity<\/h2>\n<p>The euro was under pressure for the third straight session on Wednesday as investors brought into the dollar. The euro often trades inversely to the dollar. The dollar is currently in demand as investors bet on more interest rate hikes from the Fed and as concerns over the US pulling out of the nuclear deal with Iran has also supported the dollar.<\/p>\n<p>The US pulling out of the international nuclear deal with Iran is yet another example of hard handed approach that the US is taking, turning its back on relations with the rest of the World and the EU. President Trump ignored pleas from EU leaders to remain in the deal and comes hot on the heels of the US steel and aluminium sanctions on the EU.<\/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 economic calendar on Wednesday was once again rather empty leaving investors to focus on the Bank of England interest rate decision today. The pound euro exchange rate continued to climb steadily higher , hitting a peak of \u20ac1.1458 in its third straight winning session. What do these figures mean? When measuring the value of [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4555,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394],"class_list":["post-4554","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound To Climb Higher vs. Euro On BoE&#039;s Super Thursday? - 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\/100467-gbp-eur-boe-super-thursday\/\" \/>\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\\\/100467-gbp-eur-boe-super-thursday\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100467-gbp-eur-boe-super-thursday\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound To Climb Higher vs. Euro On BoE&#8217;s Super Thursday?\",\"datePublished\":\"2018-05-10T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100467-gbp-eur-boe-super-thursday\\\/\"},\"wordCount\":769,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100467-gbp-eur-boe-super-thursday\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100467-gbp-eur-boe-super-thursday.jpg\",\"keywords\":[\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100467-gbp-eur-boe-super-thursday\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100467-gbp-eur-boe-super-thursday\\\/\",\"name\":\"GBP\\\/EUR: Pound To Climb Higher vs. Euro On BoE's Super Thursday? 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