{"id":5051,"date":"2018-11-18T00:00:00","date_gmt":"2018-11-18T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100737-gbp-eur-may-sees-off-threat\/"},"modified":"2018-11-18T00:00:00","modified_gmt":"2018-11-18T05:00:00","slug":"100737-gbp-eur-may-sees-off-threat","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100737-gbp-eur-may-sees-off-threat\/","title":{"rendered":"GBP\/EUR: Theresa May Sees Off Immediate Threat"},"content":{"rendered":"<p>Monday saw some big swings in the pound as volatility remained elevated. After climbing across the morning the pound dived 70 points versus the euro, hitting a low of \u20ac1.1202. The pair closed the session down 0.1% on the day. The pound is edging higher in early trade today.<\/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>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. 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.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Brexit continued to dominate investors\u2019 attention as the new week began. Reports suggested that UK Prime Minister was just eight letters short of a vote of no confidence. Those UK Conservative MP\u2019S that had submitted a letter were openly campaigning to encourage other Conservative party members to do the same. Yet this was not what dragged the pound lower.<\/p>\n<p>The pound tumbled lower when Theresa May said that the Brexit transition period should end before the next general election. This will be in May 2022. The Brexit transition phase was originally meant to last until 2020. However Chief EU negotiator Michel Barnier had suggested extending this until December 2022. A longer transition period would be more beneficial to UK businesses as they prepare themselves for the UK\u2019s exit from the EU. Anything that is more beneficial to British businesses, supports the economy and is therefore more beneficial to the pound.<\/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<p>Today investors will continue to watch developments in Westminster but for the time being the threat of a coup has fizzled. The BoE Governor Mark Carney appearing before the Treasury Select Committee could also be a welcomed distraction for pound traders. Here Mark Carney and three BoE officials will give their views on the current health of the economy. They can also expect to be questioned over how prepared the central bank is for a no deal Brexit.<\/p>\n<h2><a href=\"#euro-shrugs-off-political-tension-between-rome--brussels\" id=\"euro-shrugs-off-political-tension-between-rome--brussels\"><\/a>Euro Shrugs Off Political Tension Between Rome &#038; Brussels<\/h2>\n<p>The euro was broadly in favour on Monday as investors shrugged off growing tensions between Italy and Brussels. Euro finance ministers have expressed their concern over Rome\u2019s budget row with the European Commission and are waiting for the EU\u2019s next move before increasing pressure on Italy\u2019s populist government.<\/p>\n<p>The eurozone economic calendar is light again today with only German producer price index. Investors will be looking ahead to the second part of this week which sees the release of the OECD\u2019s economic outlook and ECB policy meeting minutes.<\/p>\n<p>.<\/p>\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>Monday saw some big swings in the pound as volatility remained elevated. After climbing across the morning the pound dived 70 points versus the euro, hitting a low of \u20ac1.1202. The pair closed the session down 0.1% on the day. The pound is edging higher in early trade today. What do these figures mean? When [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5052,"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-5051","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: Theresa May Sees Off Immediate Threat - 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\/100737-gbp-eur-may-sees-off-threat\/\" \/>\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\\\/100737-gbp-eur-may-sees-off-threat\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100737-gbp-eur-may-sees-off-threat\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Theresa May Sees Off Immediate Threat\",\"datePublished\":\"2018-11-18T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100737-gbp-eur-may-sees-off-threat\\\/\"},\"wordCount\":751,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100737-gbp-eur-may-sees-off-threat\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100737-gbp-eur-may-sees-off-threat.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\\\/100737-gbp-eur-may-sees-off-threat\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100737-gbp-eur-may-sees-off-threat\\\/\",\"name\":\"GBP\\\/EUR: Theresa May Sees Off Immediate Threat - 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