{"id":5379,"date":"2019-03-28T00:00:00","date_gmt":"2019-03-28T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100914-gbp-eur-no-brexit-plan-b-agreed\/"},"modified":"2019-03-28T00:00:00","modified_gmt":"2019-03-28T04:00:00","slug":"100914-gbp-eur-no-brexit-plan-b-agreed","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100914-gbp-eur-no-brexit-plan-b-agreed\/","title":{"rendered":"GBP\/EUR: Pound Lower vs. Euro As No Brexit Plan B Agreed"},"content":{"rendered":"<p>Brexit uncertainty weighed on demand for the pound on Wednesday. The pound euro exchange rate dropped 0.3% across the session to close at \u20ac1.1689. The pound is edging higher in early trade today.<\/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. 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>In the night of drama at Westminster, Theresa May was unable to break the deadlock over Brexit and ministers were unable to agree on a Plan B. Theresa May offering to stand down from position as Prime Minister earlier than she intended should her Brexit deal be accepted helped her win over some Eurosceptic supporters. However, it is still looking as if she will struggle to get her deal through Parliament, as the DUP remain strongly against Theresa May\u2019s Brexit plan.<\/p>\n<p>The House of Commons was able to come up with a Plan B for Brexit either. This leaves the UK\u2019s plans for leaving the EU in chaos. Ministers failed to agree on any of the 8 Brexit options presented. A second referendum was the closest to winning a majority, with 268 votes in favour and 295 against. Pound traders remain optimistic of a softer Brexit.<\/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>With a light UK economic calendar, Brexit discussions will remain the central focus.<\/p>\n<h2><a href=\"#german-inflation-to-boost-the-euro\" id=\"german-inflation-to-boost-the-euro\"><\/a>German Inflation To Boost The Euro?<\/h2>\n<p>The euro traded broadly lower in the previous session. Concerns over the Italian economy surfaced again on Wednesday. Reports point to the Italian economy stagnating over the long term, in a \u201cperma recession\u201d. Thanks to low productivity, spiralling debt and monetary policy ill-suited to the country\u2019s needs, Europe\u2019s third largest economy is in danger of experiencing no economic growth for a long period of time.<\/p>\n<p>Italy has already experienced a technical recession, with the economy contracting for 2 consecutive quarters. The fear is that the nation will remain around these levels of non- existent growth for a much longer period.<\/p>\n<p>Germany will be back in the spotlight today as investors look towards German inflation. Analysts predict that German inflation will remain steady at 1.5% in March year on year. They also forecast inflation increasing 0.6% month on month, up from 0.4%. A pick up in inflation could boost hopes for an interest rate rise and therefore lift the euro.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th><small> Why do raised interest rates boost a currency\u2019s value? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> 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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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>Brexit uncertainty weighed on demand for the pound on Wednesday. The pound euro exchange rate dropped 0.3% across the session to close at \u20ac1.1689. The pound is edging higher in early trade today. What do these figures mean? When measuring the value of a pair of currencies, one set equals 1 unit and the other [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5380,"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-5379","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 Lower vs. Euro As No Brexit Plan B Agreed - 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\/100914-gbp-eur-no-brexit-plan-b-agreed\/\" \/>\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\\\/100914-gbp-eur-no-brexit-plan-b-agreed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100914-gbp-eur-no-brexit-plan-b-agreed\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Lower vs. Euro As No Brexit Plan B Agreed\",\"datePublished\":\"2019-03-28T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100914-gbp-eur-no-brexit-plan-b-agreed\\\/\"},\"wordCount\":829,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100914-gbp-eur-no-brexit-plan-b-agreed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100914-gbp-eur-no-brexit-plan-b-agreed.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\\\/100914-gbp-eur-no-brexit-plan-b-agreed\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100914-gbp-eur-no-brexit-plan-b-agreed\\\/\",\"name\":\"GBP\\\/EUR: Pound Lower vs. Euro As No Brexit Plan B Agreed - 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