{"id":4591,"date":"2018-05-25T00:00:00","date_gmt":"2018-05-25T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100490-gbp-usd-trump-cancels-on-korea\/"},"modified":"2018-05-25T00:00:00","modified_gmt":"2018-05-25T04:00:00","slug":"100490-gbp-usd-trump-cancels-on-korea","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/","title":{"rendered":"GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea"},"content":{"rendered":"<p>The pound briefly spiked through US$1.34 versus the US dollar on Thursday following impressive UK retail sales data. However, sterling was unable to maintain its strength, even against a broadly weaker dollar and headed towards the close at US$1.3385.<\/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 = 1.28934 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 US 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: <em>1 USD = 0.77786 GBP<\/em> <\/p>\n<p> <em>In this example, $1 is equivalent to approximately \u00a30.78. This measures the US 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>The pound jumped higher versus the dollar as investors cheered strong UK retail sales. After weeks of softer than forecast data, stronger retail sales numbers lifted the pound, which had been languishing at 5-month lows versus the dollar. Retail sales rebounded sharply, increasing 1.6% month on month, smashing analysts\u2019 expectations of a 0.5% increase and a solid recovery from March\u2019s 0.5% decline in sales. Whilst the unseasonably harsh weather in February and March kept shoppers away from the high street, the warmer weather in April had the reverse effect.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why does strong economic data boost a country\u2019s currency? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Solid economic indicators point to a strong economy. Strong economies have strong currencies because institutions look to invest in countries where growth prospects are high. These institutions require local currency to invest in the country, thus increasing demand and pushing up the money\u2019s worth. So, when a country or region has good economic news, the value of the currency tends to rise. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>As wage growth is now outpacing inflation, consumers will slowly start to feel the pressure on their purses ease. Gradually this should translate into stronger retail sales. Strong retail sales figures tend to indicate that inflation will pick up later down the line. As higher inflation often results in an interest rate rise, retail sales tend to be a closely watched reading.<\/p>\n<p>Today investors will look towards UK<a href=\"https:\/\/transferwise.com\/gb\/blog\/gross-domestic-product-meaning\"> Gross Domestic Product<\/a> (GDP) data for further clue as to the health of the UK economy. Analysts are predicting that the economy will have grown a sluggish 1.2% on an annual basis in the first quarter. A weaker reading could send the pound lower.<\/p>\n<h2><a href=\"#rising-geopolitical-tensions-weigh-on-dollar\" name=\"rising-geopolitical-tensions-weigh-on-dollar\"><\/a>Rising Geopolitical Tensions Weigh on Dollar<\/h2>\n<p>The dollar was broadly out of favour in the previous session, albeit more in favour that the pound. Geopolitical tensions kept investors away from the dollar. Firstly, Trump has issued an investigation into the US automobile industry, a threat for more trade tariffs, in the same way Trump did with the Steel and Aluminium industry. This level of protectionism could be damaging to the US economy and world trade. As a result, the dollar weakened.<\/p>\n<p>Also weighing on the dollar was President Trump\u2019s cancellation of the Summit with North Korea\u2019s leader Kim Jong Un. This came just hours after Kim Jong Un announced the destruction of North Korea\u2019s nuclear testing site, in a move which will surely infuriate the North Korean leader. Investors\u2019 immediate reaction was to sell out of 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>The pound briefly spiked through US$1.34 versus the US dollar on Thursday following impressive UK retail sales data. However, sterling was unable to maintain its strength, even against a broadly weaker dollar and headed towards the close at US$1.3385. What do these figures mean? When measuring the value of a pair of currencies, one set [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4592,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1394,1398],"class_list":["post-4591","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-gbp","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea - 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\/100490-gbp-usd-trump-cancels-on-korea\/\" \/>\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\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea\",\"datePublished\":\"2018-05-25T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/\"},\"wordCount\":738,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100490-gbp-usd-trump-cancels-on-korea.jpg\",\"keywords\":[\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/\",\"name\":\"GBP\\\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100490-gbp-usd-trump-cancels-on-korea.jpg\",\"datePublished\":\"2018-05-25T04:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100490-gbp-usd-trump-cancels-on-korea.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100490-gbp-usd-trump-cancels-on-korea.jpg\",\"width\":725,\"height\":400,\"caption\":\"GBP\\\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100490-gbp-usd-trump-cancels-on-korea\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/fiona-cincotta-bb4a4845\\\/\"],\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/fiona-cincotta\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea","datePublished":"2018-05-25T04:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/"},"wordCount":738,"image":{"@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100490-gbp-usd-trump-cancels-on-korea.jpg","keywords":["gbp","usd"],"articleSection":["GBP","USD"],"inLanguage":"en-US","copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/","url":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/","name":"GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100490-gbp-usd-trump-cancels-on-korea.jpg","datePublished":"2018-05-25T04:00:00+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100490-gbp-usd-trump-cancels-on-korea.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100490-gbp-usd-trump-cancels-on-korea.jpg","width":725,"height":400,"caption":"GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/100490-gbp-usd-trump-cancels-on-korea\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/USD: Dollar Lower vs. Pound As Trump Cancels On North Korea"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec","name":"Fiona Cincotta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","caption":"Fiona Cincotta"},"description":"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.","sameAs":["https:\/\/www.linkedin.com\/in\/fiona-cincotta-bb4a4845\/"],"url":"https:\/\/currencylive.com\/news\/author\/fiona-cincotta\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100490-gbp-usd-trump-cancels-on-korea.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/4591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946597"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=4591"}],"version-history":[{"count":0,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/4591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/4592"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=4591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=4591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=4591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}