{"id":5027,"date":"2018-11-09T00:00:00","date_gmt":"2018-11-09T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100723-gbp-eur-pound-hovers-at-high\/"},"modified":"2018-11-09T00:00:00","modified_gmt":"2018-11-09T05:00:00","slug":"100723-gbp-eur-pound-hovers-at-high","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100723-gbp-eur-pound-hovers-at-high\/","title":{"rendered":"GBP\/EUR: Pound Hovers Around 6 Month high"},"content":{"rendered":"<p>The pound rallied to \u20ac1.1498 versus the euro on Wednesday, a fresh 6 months high. The pound then eased into the close snapping a four-day winning streak. The pound is inline to gain 0.7% against the euro this week, adding to a 1.2% increase in the previous week.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th><small> What do these figures mean? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> 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.h If the euro amount increases in this pairing, it\u2019s positive for the pound. Or, if you were looking at it the other way around:<em>1 EUR = 0.87271 GBP<\/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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Brexit optimism has boosted the pound over recent sessions. Reports and rumours have been circulating that a Brexit deal is imminent. However, today ministers played down reports that a deal could be on the table as soon as Monday. Pound traders are increasingly hopeful that there will be an agreement over the coming weeks. But the problems will not end there. Even when a deal is on the table, this still needs to be voted on. Ex-Brexit Secretary David Davis has been quite open that he and other MP\u2019s will vote against the deal in an attempt to force a better agreement. There are still many hurdles that Theresa May needs to overcome before a Brexit deal becomes a reality.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th><small> Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> 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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Today there is a barrage of UK economic data for pound traders to digest. The most important release will be the GDP data. Analysts are expecting Britain\u2019s economy to have grown by 1.5% in the third quarter, up from 1.2%. Quarter on quarter, analysts are expecting an increase of 0.6%, up from 0.4%. These are strong readings given Brexit uncertainty. Strong prints could boost the pound.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th><small> How does strong jobs data boost the currency? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> It works like this, when there is low unemployment and high job creation, the demand for workers increases. As demand for workers goes up, wages for those workers also go up. Which means the workers are now taking home more money to spend on cars, houses or in the shops. As a result, demand for goods and services also increase, pushing the prices of the goods and services higher. That\u2019s also known as inflation. When inflation moves higher, central banks are more likely to raise interest rates, which then pushes the worth of the currency higher. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><a href=\"#euro-ahead-as-investors-await-confidence-data\" id=\"euro-ahead-as-investors-await-confidence-data\"><\/a>Euro Ahead As Investors Await Confidence Data<\/h2>\n<p>The euro rallied on the release of the European Central Bank\u2019s Bulletin report over the health of the eurozone economy. The ECB\u2019s report said that consumption in the region remained resilient, whilst the central bank also expects the labour market to continue expanding. The positive outlook sent the euro higher. However, the central bank also highlighted that sources of risk outside the eurozone had also grown over recent months, sending the euro lowentral Bank Economic Bulletin, before quickly giving back the lost ground. The ECB gave an upbeat reper.<\/p>\n<p>There is no high impacting eurozone economic data due today. Euro traders must wait until Tuesday when ZEW confidence data will be released.<\/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>The pound rallied to \u20ac1.1498 versus the euro on Wednesday, a fresh 6 months high. The pound then eased into the close snapping a four-day winning streak. The pound is inline to gain 0.7% against the euro this week, adding to a 1.2% increase in the previous week. What do these figures mean? When measuring [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5028,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394],"class_list":["post-5027","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound Hovers Around 6 Month high - 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\/100723-gbp-eur-pound-hovers-at-high\/\" \/>\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\\\/100723-gbp-eur-pound-hovers-at-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100723-gbp-eur-pound-hovers-at-high\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Hovers Around 6 Month high\",\"datePublished\":\"2018-11-09T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100723-gbp-eur-pound-hovers-at-high\\\/\"},\"wordCount\":831,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100723-gbp-eur-pound-hovers-at-high\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100723-gbp-eur-pound-hovers-at-high.jpg\",\"keywords\":[\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100723-gbp-eur-pound-hovers-at-high\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100723-gbp-eur-pound-hovers-at-high\\\/\",\"name\":\"GBP\\\/EUR: Pound Hovers Around 6 Month high - 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