{"id":47031,"date":"2019-10-18T03:00:12","date_gmt":"2019-10-18T07:00:12","guid":{"rendered":"https:\/\/currencylive.com\/?p=47031"},"modified":"2019-10-18T02:37:32","modified_gmt":"2019-10-18T06:37:32","slug":"101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\/","title":{"rendered":"GBP\/EUR: Pound Struggles Ahead Of Saturday\u2019s Parliamentary Brexit Vote"},"content":{"rendered":"

The pound ended Thursday lower versus the euro despite a Brexit deal being agreed between the UK and the EU. The pound euro exchange rate soared to a high of \u20ac1.1660 before quickly paring those losses, in a volatile day of trading. The pair finished the day -0.2% at \u20ac1.1564. The pair is trending lower in early trade on Friday<\/p>\n

Pound investors cheered the UK and the EU agreeing a new Brexit deal. However, optimism soon faded as the Northern Irish DUP party, whose vote is critical to get the Brexit deal through Parliament, quickly rejected the new deal. Without the support of the DUP it is questionable as to whether the Boris Johnson\u2019s Brexit deal will win a majority in the House of Commons.<\/p>\n

The EU said that there will be no extension to Brexit, backing rebel Remainers into a corner. This enabled the pound to pick up off session lows as it boosts the chance of a deal going through. However, the pound is under pressure this morning as investors weigh up the possibility of the deal winning enough votes on\u00a0Saturday.<\/p>\n

Euro Advances In Risk On Environment<\/strong>
\nBut the DUP is not the only concern for the pound. A report on Bloomberg said that Boris Johnson\u2019s Brexit deal is worse for the economy\u2019s than Theresa May\u2019s. The report said that Boris Johnson\u2019s deal, over time, is consistent with economic growth of around 1.5%. Under Theresa May\u2019s deal GDP, would have been consistent with 1.7% and if the UK remained in the European Union growth of 1.9% would have been expected. Whilst 1.5% is still better than a no deal scenario, it is still the weakest option.<\/p>\n

The euro was broadly in favour on Thursday, just less so than the pound. The euro received a boost from the Brexit breakthrough. This is because a Brexit deal would also benefit economies in the eurozone through reduced uncertainty and reduced risk.<\/p>\n

There is no high impacting eurozone economic data due for release. The euro is rising in a quietly risk on environment following the release of mixed data from China. On the one hand Chinese GDP was just 6% in the third quarter, the lowest level since1990. However, on the other hand industrial production rose by 5.8% substantially above expectations. This boosted sentiment. When investors have a larger risk appetite, the euro tends to advance.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
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>\n

For example, it could be written:<\/p>\n

1 GBP = 1.13990 EUR<\/p>\n

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<\/p>\n

.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 EUR = 0.87271 GBP<\/em><\/p>\n

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.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

This publication is provided as general information only and is not intended as an exhaustive treatment of its subject. TransferWise Inc. and its affiliates (“we” or “us”) expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of this publication, and you may not rely thereon for any purpose. You should consult with qualified professionals or specialists 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, investment or other professional advice from us.\u00a0 We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.<\/em><\/h6>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The pound ended Thursday lower versus the euro despite a Brexit deal being agreed between the UK and the EU. The pound euro exchange rate soared to a high of \u20ac1.1660 before quickly paring those losses, in a volatile day of trading. The pair finished the day -0.2% at \u20ac1.1564. The pair is trending lower […]<\/p>\n","protected":false},"author":163946597,"featured_media":5599,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1396,1386,1399,1395,1393,1394,1409,1525,1406,1474,1391,1392],"class_list":{"0":"post-47031","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-boris-johnson","10":"tag-brexit","11":"tag-china","12":"tag-eur","13":"tag-euro","14":"tag-gbp","15":"tag-gdp","16":"tag-industrial-production","17":"tag-no-deal","18":"tag-parliament","19":"tag-pound","20":"tag-sterling"},"acf":[],"yoast_head":"\nGBP\/EUR: Pound Struggles Ahead Of Saturday\u2019s Parliamentary Brexit Vote - 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\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Struggles Ahead Of Saturday\u2019s Parliamentary Brexit Vote\",\"datePublished\":\"2019-10-18T07:00:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\\\/\"},\"wordCount\":657,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100640-gbp-eur-uk-gdp-and-eu-cpi-in-focus.jpg\",\"keywords\":[\"boris johnson\",\"Brexit\",\"china\",\"eur\",\"euro\",\"gbp\",\"gdp\",\"industrial production\",\"no deal\",\"parliament\",\"pound\",\"sterling\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101263-gbp-eur-pound-struggles-ahead-of-saturdays-parliamentary-brexit-vote\\\/\",\"name\":\"GBP\\\/EUR: Pound Struggles Ahead Of Saturday\u2019s Parliamentary Brexit Vote - 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