{"id":5476,"date":"2019-05-09T00:00:00","date_gmt":"2019-05-09T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100969-gbp-usd-pound-struggle-brexit-vote\/"},"modified":"2019-05-09T00:00:00","modified_gmt":"2019-05-09T04:00:00","slug":"100969-gbp-usd-pound-struggle-brexit-vote","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/","title":{"rendered":"GBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit"},"content":{"rendered":"

The pound dipped below $1.30 for the first time since the end of April on Wednesday, as Brexit woes hit demand for sterling. US \u2014 Sino trade was the focus for the dollar. The pound US dollar exchange rate hit a nadir of US$1.2988.<\/p>\n\n\n\n\n
What do these figures mean? <\/small><\/th>\n<\/tr>\n<\/thead>\n
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: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: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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Brexit optimism had lifted the pound last week, investors grew increasingly confident that the cross party talks between the government and Labour would result in a Brexit agreement that could be pushed through Parliament.<\/p>\n

UK Prime Minister Theresa May\u2019s team have now indicated that the talks are in fact close to stalling. Theresa May is growing under increasing pressure to step down as Prime Minister, or at least set up a timeline for her exit. The calls for her resignation have grown louder since it has become apparent that the UK will be taking part in the EU Parliamentary elections on May 22nd.<\/p>\n

In an attempt to pacify those trying to oust her, Theresa May has said that she will put her Brexit Agreement back to the House of Commons for another vote before the potentially toxic EU Parliamentary elections.<\/p>\n

With no accord between Theresa May and Labour, the chances of her Brexit deal being agreed on by ministers and making it through Parliament are extremely slim. Another failure by the PM to get a Brexit deal approved could pull the pound lower.<\/p>\n\n\n\n\n
Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit? <\/small><\/th>\n<\/tr>\n<\/thead>\n
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

Today the UK economic calendar is once again very quiet, giving investors little to distract them from Brexit frustrations and domestic politics.<\/p>\n

<\/a>Dollar Trades To The Tune of Trump<\/h2>\n

Dollar traders were watching developments in the US \u2014 Sino trade dispute closely. The dollar had risen strongly in previous sessions after President Trump stood ready to escalate the US \u2014 Sino trade dispute. This drove investors towards the greenback for its safe haven qualities.<\/p>\n

On Wednesday, Trump tweeted that China was coming to the US to make a deal. This tweet boosted optimism that a trade deal could still be within grasp. As market sentiment broadly improved, the dollar eased back from earlier highs.<\/p>\n

Today the start of two day trade talks begin in Washington. Dollar traders will be watching headlines intently. On the economic calendar the US trade balance and initial jobless claims will be in focus.<\/p>\n

\n

<\/p>\n


\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 risk warning<\/a> page for more details.<\/em><\/small><\/p>\n

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":"

The pound dipped below $1.30 for the first time since the end of April on Wednesday, as Brexit woes hit demand for sterling. US \u2014 Sino trade was the focus for the dollar. The pound US dollar exchange rate hit a nadir of US$1.2988. What do these figures mean? When measuring the value of a […]<\/p>\n","protected":false},"author":163946597,"featured_media":3137,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1386,1394,1398],"class_list":["post-5476","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-brexit","tag-gbp","tag-usd"],"acf":[],"yoast_head":"\nGBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit - 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\/100969-gbp-usd-pound-struggle-brexit-vote\/\" \/>\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\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit\",\"datePublished\":\"2019-05-09T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/\"},\"wordCount\":777,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100571-gbp-usd-pound-struggle-brexit-vote.jpg\",\"keywords\":[\"Brexit\",\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/\",\"name\":\"GBP\\\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100571-gbp-usd-pound-struggle-brexit-vote.jpg\",\"datePublished\":\"2019-05-09T04:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100571-gbp-usd-pound-struggle-brexit-vote.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100571-gbp-usd-pound-struggle-brexit-vote.jpg\",\"width\":1200,\"height\":675,\"caption\":\"GBP\\\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100969-gbp-usd-pound-struggle-brexit-vote\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\",\"name\":\"Fiona Cincotta\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g\",\"caption\":\"Fiona Cincotta\"},\"description\":\"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/fiona-cincotta-bb4a4845\\\/\"],\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/fiona-cincotta\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"GBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit","datePublished":"2019-05-09T04:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/"},"wordCount":777,"image":{"@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100571-gbp-usd-pound-struggle-brexit-vote.jpg","keywords":["Brexit","gbp","usd"],"articleSection":["GBP","USD"],"inLanguage":"en-US","copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/","url":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/","name":"GBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100571-gbp-usd-pound-struggle-brexit-vote.jpg","datePublished":"2019-05-09T04:00:00+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100571-gbp-usd-pound-struggle-brexit-vote.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100571-gbp-usd-pound-struggle-brexit-vote.jpg","width":1200,"height":675,"caption":"GBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/100969-gbp-usd-pound-struggle-brexit-vote\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/USD: Pound Struggles at $1.30 As PM Promises New Vote On Brexit"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec","name":"Fiona Cincotta","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/79afd1dde0d7ad291707268bbcdb9fdb41b2dd29f8088c8cfe9c67cd2a1de0e4?s=96&d=blank&r=g","caption":"Fiona Cincotta"},"description":"Editor - Senior Financial Market Analyst Through over a decade\u2019s experience analysing and reporting on global currency markets, Fiona has a gained a deep understanding of the fundamental drivers of currencies. She is regularly quoted by international news organisations including Financial Times, Reuters and Bloomberg. Fiona is a familiar face after years of appearances on BBC, Sky News and Fox Business News.","sameAs":["https:\/\/www.linkedin.com\/in\/fiona-cincotta-bb4a4845\/"],"url":"https:\/\/currencylive.com\/news\/author\/fiona-cincotta\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100571-gbp-usd-pound-struggle-brexit-vote.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/5476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946597"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=5476"}],"version-history":[{"count":0,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/5476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/3137"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=5476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=5476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=5476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}