{"id":4671,"date":"2018-06-26T00:00:00","date_gmt":"2018-06-26T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100531-gbp-eur-britain-brexit-demands\/"},"modified":"2018-06-26T00:00:00","modified_gmt":"2018-06-26T04:00:00","slug":"100531-gbp-eur-britain-brexit-demands","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100531-gbp-eur-britain-brexit-demands\/","title":{"rendered":"GBP\/EUR: Britain&#8217;s Brexit Demands Sends Pound Lower vs. Euro"},"content":{"rendered":"<p>The pound fell steadily versus a stronger euro in Monday\u2019s session. The pound euro exchange rate moved lower reaching a nadir of \u20ac1.1339.<\/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 = 1.13990 EUR<\/em> <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> Or, if you were looking at it the other way around: <em>1 EUR = 0.87271 GBP<\/em> <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> <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Pound weakness continued on Monday as Brexit concerns kept sterling out of favour. Hopes had been running high that there may be some progress on Brexit at the EU Summit which starts on Thursday. However UK Prime Minister Theresa May has since told the European Council President Mr Tusk that the UK paper outlining Britain\u2019s Brexit demands will not be ready until after the summit. This makes any Brexit progress at the summit increasingly unlikely. With the clock ticking towards the October deadline no new developments is making a no deal Brexit, even more likely.<\/p>\n<p>Business leaders have made no secret of their concerns over a no deal Brexit on businesses in the UK. Airbus threatened to withdraw from the UK last week in the case of a no deal Brexit and BMW on Monday indicted a similar plan of action. There is growing evidence from these firms that the economy will be badly hit should a no deal Brexit or a hard Brexit become a reality.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>A soft Brexit implies anything less than UK\u2019s complete withdrawal from the EU. For example, it could mean the UK retains some form of membership to the European Union single market in exchange for some free movement of people, i.e. immigration. This is considered more positive than a \u201chard\u201d Brexit, which is a full severance from the EU. The reason \u201csoft\u201d is considered more pound-friendly is because the economic impact would be lower. If there is less negative impact on the economy, foreign investors will continue to invest in the UK. As investment requires local currency, this increased demand for the pound then boosts its value. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Today there is no high impact data on the UK economic calendar, so analysts are anticipating that Brexit jitters will continue to weigh on sterling.<\/p>\n<h2><a href=\"#euro-rallies-as-german-business-confidence-slips\" name=\"euro-rallies-as-german-business-confidence-slips\"><\/a>Euro Rallies As German Business Confidence Slips<\/h2>\n<p>The euro managed to gain ground at the start of the week on signs of weakening confidence in Germany, amid growing trade war fears. The German business confidence survey slipped to 101.8 as expected by analysts. The fall is only marginal compared to 102.3 in May, given the increasing trade tensions with the US. This includes Trump\u2019s threatening to put 20% trade tariffs on EU cars, which would hit the German economy hard.<\/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>The euro was also benefitting from a weaker dollar on Monday, as trade war concerns finally started to hit the dollar. Up until now the dollar had been benefiting from its safe haven status, with investors wanting to buy into the dollar as global tensions increased. However, investors are starting to realise the damage that the coming trade war will do to the US economy, sending the dollar lower. The euro often trades inversely to the us dollar, therefore sending the common currency higher.<\/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 fell steadily versus a stronger euro in Monday\u2019s session. The pound euro exchange rate moved lower reaching a nadir of \u20ac1.1339. What do these figures mean? 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 [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4672,"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":["post-4671","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-brexit","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: Britain&#039;s Brexit Demands Sends 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\/100531-gbp-eur-britain-brexit-demands\/\" \/>\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\\\/100531-gbp-eur-britain-brexit-demands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100531-gbp-eur-britain-brexit-demands\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Britain&#8217;s Brexit Demands Sends Pound Lower vs. Euro\",\"datePublished\":\"2018-06-26T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100531-gbp-eur-britain-brexit-demands\\\/\"},\"wordCount\":854,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100531-gbp-eur-britain-brexit-demands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100531-gbp-eur-britain-brexit-demands.jpg\",\"keywords\":[\"Brexit\",\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100531-gbp-eur-britain-brexit-demands\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100531-gbp-eur-britain-brexit-demands\\\/\",\"name\":\"GBP\\\/EUR: Britain's Brexit Demands Sends Pound Lower vs. Euro - 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