{"id":5560,"date":"2019-06-14T00:00:00","date_gmt":"2019-06-14T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/101018-gbp-eur-pound-flat-boris-win\/"},"modified":"2019-06-14T00:00:00","modified_gmt":"2019-06-14T04:00:00","slug":"101018-gbp-eur-pound-flat-boris-win","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/","title":{"rendered":"GBP\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next"},"content":{"rendered":"<p>The pound retreated from highs versus the euro on news that Boris Johnson convincingly won the first ballot for Tory leader. The pound euro exchange rate hit a high of \u20ac1.1264, before easing back to close flat at \u20ac1.1241.<\/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>\n<p> 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. <\/p>\n<p> For example, it could be written: <em>1 GBP = 1.13990 EUR<\/em> <\/p>\n<p> <em>Here, \u00a31 is equivalent to approximately \u20ac1.14. This specifically measures the pound\u2019s worth against the euro. If the euro amount increases in this pairing, it\u2019s positive for the pound.<\/em> <\/p>\n<p> Or, if you were looking at it the other way around: <strong>1 EUR = 0.87271 GBP<\/strong> <\/p>\n<p> <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.<\/em> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Pro-Brexit Boris Johnson won the first round of votes by a significant margin. The ex-foreign minister won the backing of 114 Conservative MP\u2019s. Jeremy Hunt was in second place with just 43 votes. Three candidates were eliminated from the leadership battle for failing to secure the minimum 16 votes required to continue. They were Ester McVey, Mark Harper and Andrea Leadsom.<\/p>\n<p>Given that Boris Johnson was the favourite in the polls, yesterday\u2019s results have not come as a big surprise to pound traders. Boris Johnson has said that he will lead to the UK to Brexit with or without a deal. This had unnerved investors as fears of a no deal Brexit return. However, most recently Boris Johnson had toned down his enthusiasm for a no deal Brexit which offered some support to the pound.<\/p>\n<p>Today there is no high impacting UK economic data due to be released. Bank of England Governor Mark Carney will give a speech in London. This could attract investor attention, particularly as the probability of a no deal Brexit has increased.<\/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<h2><a href=\"#concerns-linger-over-eurozone-economy\" id=\"concerns-linger-over-eurozone-economy\"><\/a>Concerns Linger Over Eurozone Economy<\/h2>\n<p>The euro traded lower versus its peers on Thursday amid mounting evidence that the US \u2014 Sino trade dispute is negatively impacting the eurozone economy. Eurozone industrial production declined -0.5% month on month in April. This was as analysts had expected. However, the reading for March was revised lower on both a monthly and annual basis.<\/p>\n<p>The weak data comes just a day after European Central Bank President Mario Draghi and IMF President Christine Lagarde warned on the negative impacts of the ongoing US \u2014 Sino trade dispute on Europe. Whilst the ECB had sounded less cautious than investors had expected in their last meeting, concerns are growing that Europe could be heading for a downturn.<\/p>\n<p>Today there is no new high impacting eurozone data for investors to digest. As a result, the euro could have a relatively quiet day.<\/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 retreated from highs versus the euro on news that Boris Johnson convincingly won the first ballot for Tory leader. The pound euro exchange rate hit a high of \u20ac1.1264, before easing back to close flat at \u20ac1.1241. What do these figures mean? When measuring the value of a pair of currencies, one set [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5561,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394],"class_list":{"0":"post-5560","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur","10":"tag-gbp"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next - 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\/101018-gbp-eur-pound-flat-boris-win\/\" \/>\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\\\/101018-gbp-eur-pound-flat-boris-win\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next\",\"datePublished\":\"2019-06-14T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/\"},\"wordCount\":761,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100620-gbp-eur-pound-flat-boris-win.jpg\",\"keywords\":[\"eur\",\"gbp\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/\",\"name\":\"GBP\\\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100620-gbp-eur-pound-flat-boris-win.jpg\",\"datePublished\":\"2019-06-14T04:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100620-gbp-eur-pound-flat-boris-win.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100620-gbp-eur-pound-flat-boris-win.jpg\",\"width\":2452,\"height\":1325,\"caption\":\"GBP\\\/EUR:\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101018-gbp-eur-pound-flat-boris-win\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next\"}]},{\"@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\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next - 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\/101018-gbp-eur-pound-flat-boris-win\/","twitter_misc":{"Written by":"Fiona Cincotta","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/"},"author":{"name":"Fiona Cincotta","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"headline":"GBP\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next","datePublished":"2019-06-14T04:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/"},"wordCount":761,"image":{"@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100620-gbp-eur-pound-flat-boris-win.jpg","keywords":["eur","gbp"],"articleSection":["EUR","GBP"],"inLanguage":"en-US","copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/","url":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/","name":"GBP\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100620-gbp-eur-pound-flat-boris-win.jpg","datePublished":"2019-06-14T04:00:00+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/8ef0fafb6c93f1204150bb907b42cfec"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100620-gbp-eur-pound-flat-boris-win.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100620-gbp-eur-pound-flat-boris-win.jpg","width":2452,"height":1325,"caption":"GBP\/EUR:"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/101018-gbp-eur-pound-flat-boris-win\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/EUR: Pound Flat After Boris Wins 1st Round, Mark Carney Up Next"}]},{"@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\/100620-gbp-eur-pound-flat-boris-win.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/5560","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=5560"}],"version-history":[{"count":0,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/5560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/5561"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=5560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=5560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=5560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}