{"id":4939,"date":"2018-10-09T00:00:00","date_gmt":"2018-10-09T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100677-gbp-eur-brexit-decisive-phase\/"},"modified":"2018-10-09T00:00:00","modified_gmt":"2018-10-09T04:00:00","slug":"100677-gbp-eur-brexit-decisive-phase","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100677-gbp-eur-brexit-decisive-phase\/","title":{"rendered":"GBP\/EUR: Pound Recovers vs Euro As Brexit Enters Decisive Phase"},"content":{"rendered":"<p>Politics were once again driving price movement for both the euro and the pound on Monday. Italy\u2019s hard to approve budget plans remained under the spotlight for another session, as did Brexit concerns. With negative headlines hitting both the pound and the euro, the exchange rate remained evenly matched throughout the session. The pair finished the session 0.1% higher than it started at, \u20ac1.1391.<\/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>\n<p> 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> For example, it could be written: <em>1 GBP = 1.13990 EUR<\/em> <\/p>\n<p> <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> <\/p>\n<p> Or, if you were looking at it the other way around: <em>1 EUR = 0.87271 GBP<\/em> <\/p>\n<p> <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> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Over the previous week Brexit optimism had driven the pound higher. However, pound traders have since grown concerned that UK Prime Minister Theresa May is dragging her feet. After positive, commentary from Brussels over the weekend, Theresa May\u2019s office was quick to criticise the EU for being overly optimistic that a Brexit deal will be achieved.<\/p>\n<p>Theresa May\u2019s spokesman insisted that there was still a significant distance between the two sides and that the EU still needed to make further compromises in order for a deal to be done. The spokesman also affirmed that the wording and framework of any deal must be precise. The Prime Minister\u2019s office made is clear that the UK is looking to avoid any form of blind Brexit.<\/p>\n<p>Renewed Brexit optimism lifted the pound later in the day. Theresa May saying that she was ready to make concessions over the Irish border if the EU would give the UK frictionless trade in return helped lift sterling. Whilst the EU have not shown signs that they are willing to make such a deal, pound traders cheered the continued attempts by the UK government to achieve a deal.<\/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>\n<h2><a href=\"#italian-woes-keep-the-euro-under-pressure\" id=\"italian-woes-keep-the-euro-under-pressure\"><\/a>Italian Woes Keep The Euro Under Pressure<\/h2>\n<p>Investors remained focused on increasing political tension between the Italian populist coalition government and the European Commission. The Italian government looked set to clash with the European Commission when it revealed its spending plans, which were in excess of the EU limit. The political climate had been improving towards the end of last week as analysts expected Italy to rein in its spending in 2020 and 2021.<\/p>\n<p>However, comments by the Deputy PM Matteo Salvini as he lashed out calling EU officials the \u201cenemies of Europe\u201d increased the chances of a clash between the two sides, raising political risk. This unnerved euro investors, squashing demand for the euro. Analysts are expecting uncertainty to continue until the Italian budget is submitted in mid-October.<\/p>\n<hr \/>\n<p><small><\/p>\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>Politics were once again driving price movement for both the euro and the pound on Monday. Italy\u2019s hard to approve budget plans remained under the spotlight for another session, as did Brexit concerns. With negative headlines hitting both the pound and the euro, the exchange rate remained evenly matched throughout the session. The pair finished [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4940,"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":{"0":"post-4939","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-brexit","10":"tag-eur","11":"tag-gbp"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound Recovers vs Euro As Brexit Enters Decisive Phase - 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\/100677-gbp-eur-brexit-decisive-phase\/\" \/>\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\\\/100677-gbp-eur-brexit-decisive-phase\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100677-gbp-eur-brexit-decisive-phase\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Recovers vs Euro As Brexit Enters Decisive Phase\",\"datePublished\":\"2018-10-09T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100677-gbp-eur-brexit-decisive-phase\\\/\"},\"wordCount\":788,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100677-gbp-eur-brexit-decisive-phase\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100677-gbp-eur-brexit-decisive-phase.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\\\/100677-gbp-eur-brexit-decisive-phase\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100677-gbp-eur-brexit-decisive-phase\\\/\",\"name\":\"GBP\\\/EUR: Pound Recovers vs Euro As Brexit Enters Decisive Phase - 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