{"id":47146,"date":"2019-10-22T02:00:22","date_gmt":"2019-10-22T06:00:22","guid":{"rendered":"https:\/\/currencylive.com\/?p=47146"},"modified":"2019-10-22T01:57:04","modified_gmt":"2019-10-22T05:57:04","slug":"101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\/","title":{"rendered":"GBP\/EUR: Pound Hovers Around 5 Month High head Of Brexit Vote"},"content":{"rendered":"

The pound advanced versus the euro on Monday. The pound euro exchange rate gained 0.4% hitting a high of \u20ac1.1668. The pair is quietly advancing in early trade on Tuesday.<\/p>\n

Brexit remained the exclusive driver of the pound in the previous session. Sterling trended higher as investors considered that a no deal Brexit was almost completely off the table. At the same time, the governments\u2019 desire to get Brexit done by 31st October is also a big challenge.<\/p>\n

The House of Commons Speaker John Bercow denied Prime Minister Boris Johnson the opportunity to put his Brexit deal to Parliament in a meaningful vote on Monday. He insisted it was \u201csame matter\u201d meaning it cannot be put to the House of Commons for a second time.<\/p>\n

Boris Johnson is expected to put the withdrawal agreement bill to MP\u2019s to be voted on, on Tuesday. If he wins the vote, he will speed the legislation through the Commons and Lords in time for 31st<\/sup> October deadline. According to analysis by the Financial Times, Boris Johnson has sufficient votes to win by a majority of 5 MP\u2019s.<\/p>\n

However, he also faces moves by opposition parties to amend the bill to try to force a second referendum.<\/p>\n

There is no panic in the pound and at these levels investors are confident that a no deal will be averted.<\/p>\n

 <\/p>\n\n\n\n\n
Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit?<\/strong><\/td>\n<\/tr>\n
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>\n

 <\/p>\n

Euro Investors Look To Thursday\u2019s ECB Meeting<\/strong><\/h3>\n

With no high impacting economic data to digest, euros investors are looking ahead to the European Central Bank monetary policy announcement on Thursday. This will be President Mario Draghi\u2019s final meeting before Christine Lagarde takes over.<\/p>\n

After the central bank cut overnight interest rates and restarted its bond buying programme in September. Analysts are not expecting another move from the ECB so soon after September\u2019s easing and particularly given that it is Draghi final meeting. Investors will listen carefully to the tine pf the central bank. Any hunts that there could be further easing in the near future could drag on the euro.<\/p>\n

There is no high impacting eurozone data today. The eurozone economic calendar is quiet until tomorrow\u2019s consumer confidence print.<\/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","protected":false},"excerpt":{"rendered":"

The pound advanced versus the euro on Monday. The pound euro exchange rate gained 0.4% hitting a high of \u20ac1.1668. The pair is quietly advancing in early trade on Tuesday. Brexit remained the exclusive driver of the pound in the previous session. Sterling trended higher as investors considered that a no deal Brexit was almost […]<\/p>\n","protected":false},"author":163946597,"featured_media":5382,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1396,1386,1513,1413,1395,1393,1394,1391,1392],"class_list":{"0":"post-47146","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-draghi","12":"tag-ecb","13":"tag-eur","14":"tag-euro","15":"tag-gbp","16":"tag-pound","17":"tag-sterling"},"acf":[],"yoast_head":"\nGBP\/EUR: Pound Hovers Around 5 Month High head Of 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\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Hovers Around 5 Month High head Of Brexit Vote\",\"datePublished\":\"2019-10-22T06:00:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\\\/\"},\"wordCount\":741,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100915-gbp-usd-brexit-voted-down.jpg\",\"keywords\":[\"boris johnson\",\"Brexit\",\"Draghi\",\"ecb\",\"eur\",\"euro\",\"gbp\",\"pound\",\"sterling\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101281-gbp-eur-pound-hovers-around-5-month-high-head-of-brexit-vote\\\/\",\"name\":\"GBP\\\/EUR: Pound Hovers Around 5 Month High head Of Brexit Vote - 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