{"id":5087,"date":"2018-11-30T00:00:00","date_gmt":"2018-11-30T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100754-dollar-steady-ahead-g20-summit\/"},"modified":"2018-11-30T00:00:00","modified_gmt":"2018-11-30T05:00:00","slug":"100754-dollar-steady-ahead-g20-summit","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100754-dollar-steady-ahead-g20-summit\/","title":{"rendered":"GBP\/USD: Dollar Steady vs. Pound Ahead of G20 Summit"},"content":{"rendered":"<p>The pound was broadly under pressure on Thursday as Brexit fears continued to drive movement in the pound. The pound tumbled 0.3% versus the dollar in the previous session to close at US$1.2785. The pair were trading flat in early trade on Friday.<\/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.For example, it could be written:<em>1 GBP = 1.28934 USD<\/em>Here, \u00a31 is equivalent to approximately $1.29. This specifically measures the pound\u2019s worth against the dollar. If the US dollar amount increases in this pairing, it\u2019s positive for the pound. Or, if you were looking at it the other way around:<em>1 USD = 0.77786 GBP<\/em>In this example, $1 is equivalent to approximately \u00a30.78. This measures the US dollar\u2019s worth versus the British pound. If the sterling number gets larger, it\u2019s good news for the dollar.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The pound had remained under pressure across the week as Brexit nerves weigh on sentiment for sterling. There are still heavy doubts as to whether UK Prime Minister Theresa May can push her Brexit deal through Parliament. European Union&#8217;s chief negotiator once again clarified that there is no other option on the table, if Parliament vote down this version of Brexit, the UK will face a disorderly no deal Brexit.<\/p>\n<p>These comments come just a day after UK government economists and the Bank of England governor Mark Carney painted a bleak outlook for the UK economy, no matter which version of Brexit was chosen. However, the outlook under a no deal Brexit was particularly dismal with the economy expected to contract, house prices, inflation and unemployment set to rise.<\/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, Brexit will be in focus and once again drive the value of the pound. Investors could also look towards Nationwide House price index. This is expected to show that house prices growth has ticked higher after growing at the slowest pace in 5 years in October. This could offer a little support to the pound.<\/p>\n<h2><a href=\"#dovish-fed-minutes\" id=\"dovish-fed-minutes\"><\/a>Dovish Fed Minutes<\/h2>\n<p>The dollar strengthened in the previous session, despite minutes from September\u2019s Federal Reserve monetary policy meeting supporting a more cautious tone from the Federal Reserve System ( Fed ). Whilst the minutes did nothing to discourage the markets that a hike was on the way in December, they did fuel expectations that the Fed was close to pausing interest rate hikes. Expectations for fewer hikes across the coming year would usually drag the dollar lower; however concerns over geopolitical tensions ahead of the G20 Summit boosted the dollar.<\/p>\n<p>The G20 Summit kicks off in Buenos Aires today. Investors will be watching for any easing in trade tensions between the US and China. The dollar has benefited from trade tension so far. Should there be any signs of progress between Trump and China\u2019s President Xi, the dollar could dip lower.<\/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>The pound was broadly under pressure on Thursday as Brexit fears continued to drive movement in the pound. The pound tumbled 0.3% versus the dollar in the previous session to close at US$1.2785. The pair were trading flat in early trade on Friday. What do these figures mean? When measuring the value of a pair [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5088,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1398],"class_list":["post-5087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD: Dollar Steady vs. Pound Ahead of G20 Summit - 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\/100754-dollar-steady-ahead-g20-summit\/\" \/>\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\\\/100754-dollar-steady-ahead-g20-summit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100754-dollar-steady-ahead-g20-summit\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Dollar Steady vs. Pound Ahead of G20 Summit\",\"datePublished\":\"2018-11-30T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100754-dollar-steady-ahead-g20-summit\\\/\"},\"wordCount\":771,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100754-dollar-steady-ahead-g20-summit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100754-dollar-steady-ahead-g20-summit.jpg\",\"keywords\":[\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100754-dollar-steady-ahead-g20-summit\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100754-dollar-steady-ahead-g20-summit\\\/\",\"name\":\"GBP\\\/USD: Dollar Steady vs. Pound Ahead of G20 Summit - 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