{"id":4673,"date":"2018-06-26T00:00:00","date_gmt":"2018-06-26T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100532-gbp-usd-brexit-fears-trade-war\/"},"modified":"2018-06-26T00:00:00","modified_gmt":"2018-06-26T04:00:00","slug":"100532-gbp-usd-brexit-fears-trade-war","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100532-gbp-usd-brexit-fears-trade-war\/","title":{"rendered":"GBP\/USD: Brexit Fears Keep Pound Evenly Matched vs. Dollar"},"content":{"rendered":"<p>Pound weakness owing to Brexit jitters, in addition to falling demand for the US dollar as trade war fears intensify, left the pound US dollar exchange rate more or less flat on Monday. The exchange rate traded within a narrow range hitting a peak of US$1.3290 and a low of US$1.2322.<\/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 US 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 US 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>With little in the way of high impacting UK data, investors continue to dwell on Brexit developments, or the lack thereof. With the EU Summit beginning on Thursday, market participants are not expecting many developments after UK Prime Minister announced that Britain\u2019s Brexit demands will now not be ready until after the summit. With the clock ticking until the October deadline, a no deal Brexit is looking increasingly likely.<\/p>\n<p>This comes as scores of business leaders threaten to withdraw from the UK should there be a no deal Brexit. Last week Airbus said that it would withdraw on a no deal Brexit, on Monday BMW expressed similar plans. The level of uncertainty on a no deal Brexit is too great for many businesses. This would make for a hard Brexit which would the most business unfriendly and therefore the worst option for the UK economy and the pound.<\/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>With no high impacting UK data due for release today, Brexit jitters will continue to drive price action in the pound.<\/p>\n<h2><a href=\"#dollar-drops-on-trade-war-fears\" name=\"dollar-drops-on-trade-war-fears\"><\/a>Dollar Drops On Trade War Fears<\/h2>\n<p>Intensifying trade war concerns started to send the dollar southwards in the previous session. Up until now the dollar has been rising as trade war fears pick up. This has been due to its safe haven status, whereby investors look to buy into the dollar in times of global tensions.<\/p>\n<p>However, the reality is that any US trade war will have a deeply negative impact on the US economy. This is turn makes the US dollar less appealing. As Harley-Davidson an iconic US company announced plans to shift production from the US in light of the trade war, the dollar dropped lower.<\/p>\n<p>Today traders will look towards US consumer confidence figures, which may offer the dollar an opportunity to claw back some of the losses from the previous session. Consumer confidence hit an all-time high in April, as Americans were optimistic about their finances and the jobs market. Investors will be looking for ant signs that the impending trade war is impacting on consumer optimism; under such circumstances the dollar could fall further.<\/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>Pound weakness owing to Brexit jitters, in addition to falling demand for the US dollar as trade war fears intensify, left the pound US dollar exchange rate more or less flat on Monday. The exchange rate traded within a narrow range hitting a peak of US$1.3290 and a low of US$1.2322. What do these figures [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4674,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,1394,1398],"class_list":["post-4673","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-brexit","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: Brexit Fears Keep Pound Evenly Matched vs. Dollar - 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\/100532-gbp-usd-brexit-fears-trade-war\/\" \/>\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\\\/100532-gbp-usd-brexit-fears-trade-war\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100532-gbp-usd-brexit-fears-trade-war\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Brexit Fears Keep Pound Evenly Matched vs. Dollar\",\"datePublished\":\"2018-06-26T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100532-gbp-usd-brexit-fears-trade-war\\\/\"},\"wordCount\":805,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100532-gbp-usd-brexit-fears-trade-war\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100532-gbp-usd-brexit-fears-trade-war.jpg\",\"keywords\":[\"Brexit\",\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100532-gbp-usd-brexit-fears-trade-war\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100532-gbp-usd-brexit-fears-trade-war\\\/\",\"name\":\"GBP\\\/USD: Brexit Fears Keep Pound Evenly Matched vs. Dollar - 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