{"id":5411,"date":"2019-04-09T00:00:00","date_gmt":"2019-04-09T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100930-gbp-eur-brexit-extension\/"},"modified":"2019-04-09T00:00:00","modified_gmt":"2019-04-09T04:00:00","slug":"100930-gbp-eur-brexit-extension","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100930-gbp-eur-brexit-extension\/","title":{"rendered":"GBP\/EUR: Brexit Extension &#038; EU Trade Tariffs In Focus"},"content":{"rendered":"<p>Brexit uncertainty pulled the pound lower across most of Monday. The pound only managed to stage a comeback when the House of Lords voted to stop a no deal Brexit. The pound\u2014euro exchange rate tumbled to a low of \u20ac1.1566 before rebounding to close down at \u20ac1.1604. The pound was moving higher versus the euro in early trade on Tuesday.<\/p>\n<table class=\"table table-bordered\">\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>UK Prime Minister Theresa May has been holding talks with the leader of the opposition Jeremy Corbyn in an attempt to find a way to get a Brexit deal through Parliament. However the search for a new Brexit compromise has not gone well and talks have stumbled. Theresa May\u2019s team have made an offer of a compromise to Labour. However, it doesn\u2019t cross any of the PM\u2019s red lines and doesn\u2019t meet any of Labour\u2019s key demands. This dragged sterling lower.<\/p>\n<table class=\"table table-bordered\">\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>The House of Lords voting in favour of preventing a no deal Brexit picked the pound up off session lows. The bill now passed by the House of Commons and the House of Lords takes the pressure off the UK crashing out of the EU on 12th April. By law the UK will avoid the most damaging Brexit scenario for the economy.<\/p>\n<p>Today Theresa May will meet with Germany\u2019s Angela Merkel and France\u2019s Macron as part of her efforts to secure a short delay to Brexit. At home she is fighting off growing unrest within her party.<\/p>\n<h2><a href=\"#caution-after-trumps-attack-on-europe\" id=\"caution-after-trumps-attack-on-europe\"><\/a>Caution After Trump\u2019s Attack on Europe<\/h2>\n<p>The euro traded broadly flat in the previous session. An improvement in the eurozone sentiment index helped support demand for the euro. However, investors are trading cautiously following President Trump\u2019s threat of new trade tariffs on European helicopters, cheese and wine. The threat of tariffs on some $1 billion imports from the EU will only go ahead following a World Trade Organisation (WTO) review this summer. The announcement comes just as the EU and the US are to begin trade talks on the industrial tariffs that Trump was threatening last summer.<\/p>\n<p>Any trade tensions with the EU could hit demand for the value of the euro, whilst boosting the value of the dollar.<\/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>Brexit uncertainty pulled the pound lower across most of Monday. The pound only managed to stage a comeback when the House of Lords voted to stop a no deal Brexit. The pound\u2014euro exchange rate tumbled to a low of \u20ac1.1566 before rebounding to close down at \u20ac1.1604. The pound was moving higher versus the euro [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5412,"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-5411","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: Brexit Extension &amp; EU Trade Tariffs In Focus - 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\/100930-gbp-eur-brexit-extension\/\" \/>\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\\\/100930-gbp-eur-brexit-extension\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100930-gbp-eur-brexit-extension\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Brexit Extension &#038; 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