{"id":5506,"date":"2019-05-24T00:00:00","date_gmt":"2019-05-24T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100991-gbp-usd-pound-stabilises-vs-dollar\/"},"modified":"2019-05-24T00:00:00","modified_gmt":"2019-05-24T04:00:00","slug":"100991-gbp-usd-pound-stabilises-vs-dollar","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/","title":{"rendered":"GBP\/USD: Pound Stabilises, PM May To Set Exit Timetable"},"content":{"rendered":"<p>The pound finally moved higher versus the dollar on Thursday. However, this was more to do with US dollar weakness than any notable pound strength. The pound US dollar exchange rate dropped to a low of US$1.2605 a fresh 4 month low, before recovering to US$1.2660.<\/p>\n<table class=\"table table-bordered\">\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.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. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The pound was broadly out of favour in the previous session as investors braced themselves for a pro-Brexit replacement for Theresa May. Prime Minister Theresa May has so far still refused to hand in her resignation. However, pound traders are assuming that she will be leaving sooner rather than later.<\/p>\n<p>Today the PM will meet with Graham Brady the Chairman of the 1922 Committee of backbenchers. He will advise her that she will be forced out if she doesn\u2019t set a leaving date. Should Theresa May conclude that she will not be able to push her Brexit deal through Parliament, she may resign in the coming days. However, reports suggest that Theresa May will stay in power until early June, after President Trump\u2019s visit. The leadership battle takes place over a six week period, during this time volatility in the pound could pick up.<\/p>\n<table class=\"table table-bordered\">\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>In addition to developments in Westminster, pound traders could glance towards UK retail sales data. Analysts are expecting UK retail sales to remain elevated at 4.3% year on year in April, although this is down slightly from the stellar 6.2% in March. A strong reading could help lift the pound.<\/p>\n<table class=\"table table-bordered\">\n<tr>\n<th><small> Why does strong economic data boost a country\u2019s currency? <\/small><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><small> Solid economic indicators point to a strong economy. Strong economies have strong currencies because institutions look to invest in countries where growth prospects are high. These institutions require local currency to invest in the country, thus increasing demand and pushing up the money\u2019s worth. So, when a country or region has good economic news, the value of the currency tends to rise. <\/small><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><a href=\"#dollar-dips-on-dismal-data\" id=\"dollar-dips-on-dismal-data\"><\/a>Dollar Dips On Dismal Data<\/h2>\n<p>The dollar gave up some of its recent gains in the previous session after a strong run of wins. Investors had been buying into the dollar for its safe haven status as geopolitical tensions between the US and China intensified.<\/p>\n<p>US data was also under the spotlight on Thursday and failed to impress. US manufacturing activity dived to a 9 year low on trade war concerns. The manufacturing pmi recorded 50.6 in May, down from 52.6 in April. This is just the latest sign that the US &#8211; China trade war is negatively impacting the economy. The weaker data pulled the dollar southwards.<\/p>\n<p>Today US data will remain under the microscope as investors look towards durable goods data. Analysts are predicting another fall, which could turn up fears over the health of the US economy and pull the dollar 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>The pound finally moved higher versus the dollar on Thursday. However, this was more to do with US dollar weakness than any notable pound strength. The pound US dollar exchange rate dropped to a low of US$1.2605 a fresh 4 month low, before recovering to US$1.2660. What do these figures mean? When measuring the value [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5507,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1394,1398],"class_list":{"0":"post-5506","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-gbp","10":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD: Pound Stabilises, PM May To Set Exit Timetable - 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\/100991-gbp-usd-pound-stabilises-vs-dollar\/\" \/>\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\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Stabilises, PM May To Set Exit Timetable\",\"datePublished\":\"2019-05-24T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/\"},\"wordCount\":856,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg\",\"keywords\":[\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/\",\"name\":\"GBP\\\/USD: Pound Stabilises, PM May To Set Exit Timetable - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg\",\"datePublished\":\"2019-05-24T04:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg\",\"width\":1200,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100991-gbp-usd-pound-stabilises-vs-dollar\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/USD: Pound Stabilises, PM May To Set Exit Timetable\"}]},{\"@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 Stabilises, PM May To Set Exit Timetable - 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\/100991-gbp-usd-pound-stabilises-vs-dollar\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"GBP\/USD: Pound Stabilises, PM May To Set Exit Timetable","datePublished":"2019-05-24T04:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/"},"wordCount":856,"image":{"@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg","keywords":["gbp","usd"],"articleSection":["GBP","USD"],"inLanguage":"en-US","copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/","url":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/","name":"GBP\/USD: Pound Stabilises, PM May To Set Exit Timetable - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg","datePublished":"2019-05-24T04:00:00+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg","width":1200,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/100991-gbp-usd-pound-stabilises-vs-dollar\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/USD: Pound Stabilises, PM May To Set Exit Timetable"}]},{"@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\/100593-gbp-usd-pound-stabilises-vs-dollar.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/5506","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=5506"}],"version-history":[{"count":0,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/5506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/5507"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=5506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=5506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=5506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}