{"id":5207,"date":"2019-01-22T00:00:00","date_gmt":"2019-01-22T05:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100820-gbp-eur-pound-steadies-brexit\/"},"modified":"2019-01-22T00:00:00","modified_gmt":"2019-01-22T05:00:00","slug":"100820-gbp-eur-pound-steadies-brexit","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100820-gbp-eur-pound-steadies-brexit\/","title":{"rendered":"GBP\/EUR: Pound Steady vs. Euro As Prospects Of Brexit Delay Increase"},"content":{"rendered":"<p>Sterling rallied across the board on Monday, following news of Prime Minister Theresa May\u2019s Brexit plan -B. The pound surged 0.2% against the euro on Monday, hitting a high of \u20ac1.1356.<\/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.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.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Theresa May\u2019s Plan B was actually a version of Plan A. Theresa May continued along the familiar lines of no to taking Brexit off the table, no to a second referendum and no to delaying Brexit. Theresa May\u2019s Plan B appears to be talking ministers in Plan A.<\/p>\n<p>The PM said that she would return to Brussels in search of further re-assurances over the Irish backstop issue. Whilst Poland suggested a 5-year limit should exist. Ireland said there should be no limit. This was then followed by a complete rebuff from EU Chief negotiator Michel Barnier, who insisted again that there was no more negotiating to be done.<\/p>\n<p>The pound moved higher through Theresa May\u2019s speech, as it did in the previous week when Parliament rejected the Prime Ministers Brexit deal. With no, or very few changes to the plan, investors are considering that no Brexit is more likely than a no deal Brexit.<\/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>Brexit headlines will continue to move the pound. However, investors will also look towards UK wage growth data for clues as to the health of the UK economy. Analysts are predicting the UK earnings increased 3.3% in the three months to November. This would be in line with October\u2019s reading and a sufficiently high reading to boost the pound.<\/p>\n<h2><a href=\"#will-zew-sentiment-data-knock-the-euro-lower\" id=\"will-zew-sentiment-data-knock-the-euro-lower\"><\/a>Will ZEW Sentiment Data Knock The Euro Lower?<\/h2>\n<p>The euro was out of demand in the previous session following yet more disappointing data from Germany. German producer price index (PPI), which measures inflation at wholesale level fell by more than analysts had been expecting in December. PPI fell by -0.4% month on month, well below the -0.1% decline forecast.<\/p>\n<p>This is just the latest round of soft data from Germany or the eurozone. Investors are concerned that the European Central Bank (ECB) will struggle to justify increasing interest rates later in the year.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>Why do raised interest rates boost a currency\u2019s value?<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Interest rates are key to understanding exchange rate movements. Those who have large sums of money to invest want the highest return on their investments. Higher interest rate environments tend to offer higher yields. So, if the interest rate or at least the interest rate expectation of a country is relatively higher compared to another, then it attracts more foreign capital investment. Large corporations and investors need local currency to invest. More local currency used then boosts the demand of that currency, pushing the value higher.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Today euro traders will look towards ZEW economic sentiment index for both Germany and the Eurozone. Analysts are expecting sentiment to have declined once again. This could pull the euro lower.<\/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>Sterling rallied across the board on Monday, following news of Prime Minister Theresa May\u2019s Brexit plan -B. The pound surged 0.2% against the euro on Monday, hitting a high of \u20ac1.1356. What do these figures mean? When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5208,"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":["post-5207","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-brexit","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 Steady vs. Euro As Prospects Of Brexit Delay Increase - 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\/100820-gbp-eur-pound-steadies-brexit\/\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100820-gbp-eur-pound-steadies-brexit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100820-gbp-eur-pound-steadies-brexit\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound Steady vs. Euro As Prospects Of Brexit Delay Increase\",\"datePublished\":\"2019-01-22T05:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100820-gbp-eur-pound-steadies-brexit\\\/\"},\"wordCount\":849,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100820-gbp-eur-pound-steadies-brexit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100820-gbp-eur-pound-steadies-brexit.jpg\",\"keywords\":[\"Brexit\",\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100820-gbp-eur-pound-steadies-brexit\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100820-gbp-eur-pound-steadies-brexit\\\/\",\"name\":\"GBP\\\/EUR: Pound Steady vs. Euro As Prospects Of Brexit Delay Increase - 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