{"id":47277,"date":"2019-10-24T10:10:43","date_gmt":"2019-10-24T14:10:43","guid":{"rendered":"https:\/\/currencylive.com\/?p=47277"},"modified":"2020-02-26T10:17:26","modified_gmt":"2020-02-26T15:17:26","slug":"101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\/","title":{"rendered":"GBP\/CAD Loses Yesterday Gains Amid Brexit Uncertainty"},"content":{"rendered":"<p>On Wednesday, GBP\/CAD took a break from the bearish move and rose 0.23%, but today it might wipe out all gains.<\/p>\n<p>The pair has already declined 0.12% to 1.6858 as of 10:22 AM UTC and is pointing downwards, though there is no clear sign of where the next stop is.<\/p>\n<p>The British pound is under pressure amid the Brexit uncertainty and weak housing market data.<\/p>\n<h2>Mortgage Approvals Tumble to 6-Month Lows<\/h2>\n<p>Last month, the number of new mortgages approved by UK banks declined to the lowest level in six months, according to the industry\u2019s trade association UK Finance. The survey adds to worries that the housing market is decelerating ahead of the Brexit deadline set for October 31.<\/p>\n<p>UK Finance announced that British banks gave green-lighted 42,310 loans for property purchase in September against 42,527 in August. Elsewhere, the number of approval for remortgaging surged to 32,649, which is the highest level in almost two years.<\/p>\n<p>The association said that consumer credit increased to 4.5% year-on-year, which is the highest level in 19 months.<\/p>\n<h2>EU to Support Brexit Delay<\/h2>\n<p>While Canada is thinking about possible coalitions after the national election on Monday, the GBP\/CAD pair is now monitoring every Brexit-related reaction.<\/p>\n<p>UK Prime Minister Boris Johnson has the challenging job of handling the Brexit process beyond October 31. Johnson lost control after parliament didn\u2019t support his deal on Saturday during a meaningful vote, leaving him with the choice to pass a Brexit bill through both chambers.<\/p>\n<p>The parliament finally voted in favor of the bill yesterday, though it refused to rush in line with Johnson\u2019s timeline.<\/p>\n<p>The only option was to request another delay, and it seems the EU is ready to back it.<\/p>\n<p>Earlier today, a senior official <a href=\"https:\/\/www.reuters.com\/article\/us-britain-eu\/eu-mulls-delay-as-britain-says-johnsons-deal-is-the-brexit-endgame-idUSKBN1X30T1\">told<\/a> the press that the UK would ultimately leave the bloc on the terms of Johnson despite the fact that the parliament had hindered the timing.<\/p>\n<p>Speaking about the timing of divorce, the anonymous source said: \u201cParliament has taken back control.\u201d<\/p>\n<p>When asked whether there will be an election before Christmas in this case, he responded: \u201cPerhaps, we shall see.\u201d<\/p>\n<hr\/>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any 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 on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, GBP\/CAD took a break from the bearish move and rose 0.23%, but today it might wipe out all gains. The pair has already declined 0.12% to 1.6858 as of 10:22 AM UTC and is pointing downwards, though there is no clear sign of where the next stop is. The British pound is under [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":47281,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1379],"tags":[1721,1386,1680,1723,1394,1868,1724,1722],"class_list":{"0":"post-47277","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-gbp","9":"tag-bearish","10":"tag-brexit","11":"tag-cad","12":"tag-canada","13":"tag-gbp","14":"tag-gbp-cad","15":"tag-national-elections","16":"tag-uk-banks"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/CAD Loses Yesterday Gains Amid Brexit Uncertainty - 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\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/CAD Loses Yesterday Gains Amid Brexit Uncertainty\",\"datePublished\":\"2019-10-24T14:10:43+00:00\",\"dateModified\":\"2020-02-26T15:17:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\\\/\"},\"wordCount\":584,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/10\\\/canadian-dollars-in-hand.jpg\",\"keywords\":[\"bearish\",\"Brexit\",\"cad\",\"canada\",\"gbp\",\"gbp\\\/cad\",\"national elections\",\"uk banks\"],\"articleSection\":[\"CAD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101310-gbp-cad-loses-yesterday-gains-amid-brexit-uncertainty\\\/\",\"name\":\"GBP\\\/CAD Loses Yesterday Gains Amid Brexit Uncertainty - 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