{"id":6164,"date":"2019-09-27T03:00:10","date_gmt":"2019-09-27T07:00:10","guid":{"rendered":"https:\/\/currencylive.com\/?p=6164"},"modified":"2019-09-27T02:38:54","modified_gmt":"2019-09-27T06:38:54","slug":"101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\/","title":{"rendered":"GBP\/EUR: Pound Pushing Higher, Brexit Talks In Focus"},"content":{"rendered":"

The pound was broadly out of favour against its peers on Thursday, as way the euro. The pound euro exchange rate finished trading on Thursday at approximately the same level that it had started, at US$1.1289. The pair is pushing higher in early trade on Friday.<\/p>\n

The mood for the pound soured again on Thursday as Prime Minister Boris Johnson refused to back down and attacked opposition politicians who are attempting to bloc Brexit. Whilst Boris Johnson insists, he still wants a deal, he has also admitted that a deal with the EU is not close. The EU believe that the heightened rhetoric in Parliament is making any form of Brexit agreement more unlikely. Brexit risks remain skewed to the downside and this will continue keeping the pressure on the pound.<\/p>\n

 <\/p>\n\n\n\n\n
Why is a \u201csoft\u201d Brexit better for sterling than a \u201chard\u201d Brexit?<\/strong><\/td>\n<\/tr>\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.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

The pound is experiencing a small lift higher in early trade thanks to an improvement in UK consumer confidence. GFK consumer confidence increased to -12, up from -14. However, with eye on Brexit talks the lift in the pound may not last.<\/p>\n

Euro Remains Vulnerable<\/strong><\/h3>\n

The euro was also broadly out of favour in the previous session. Whilst data showed that German consumer confidence increased for the first time this year, the euro failed to react positively. More generally, data across the week has been poor and investors are unable to shake off fears that Germany, the eurozone\u2019s largest economy is tipping into recession<\/p>\n

Euro investors also digested the shock resignation of Germany\u2019s representative Sabine Lautenschlaeger on the ECB executive board. Sabine Lautenschlaeger was a known hawk. Her resignation highlights the deep division within the ECB over its recent decision to loosen monetary policy. By leaving the ECB the hawk \/ dove split will change. Investors will be watching closely as to see who will replace her. A more dovish replacement could indicate that the ECB are looking to adopt an even more dovish stance towards monetary policy.<\/p>\n

Today there is no high impacting eurozone economic data for investors to mull over. Instead some second-tier figures on eurozone business confidence could give the euro a well needed boost.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\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.<\/p>\n

 <\/p>\n

For example, it could be written:<\/p>\n

1 GBP = 1.13990 EUR<\/p>\n

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<\/p>\n

.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 EUR = 0.87271 GBP<\/em><\/p>\n

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>\n

This publication is provided as general information only and is not intended as an exhaustive treatment of its subject. TransferWise Inc. and its affiliates (“we” or “us”) expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of this publication, and you may not rely thereon for any purpose. You should consult with qualified professionals or specialists 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, investment or other professional advice from us.\u00a0 We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

The pound was broadly out of favour against its peers on Thursday, as way the euro. The pound euro exchange rate finished trading on Thursday at approximately the same level that it had started, at US$1.1289. The pair is pushing higher in early trade on Friday. The mood for the pound soured again on Thursday […]<\/p>\n","protected":false},"author":163946597,"featured_media":5004,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1386,1413,1395,1393,1394,1446,1552,1406,1474,1391,1414,1563,1392],"class_list":{"0":"post-6164","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-brexit","10":"tag-ecb","11":"tag-eur","12":"tag-euro","13":"tag-gbp","14":"tag-germany","15":"tag-ifo","16":"tag-no-deal","17":"tag-parliament","18":"tag-pound","19":"tag-recession","20":"tag-sabine-lautenschlaeger","21":"tag-sterling"},"acf":[],"yoast_head":"\nGBP\/EUR: Pound Pushing Higher, Brexit Talks 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\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\/\" \/>\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\\\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Pushing Higher, Brexit Talks In Focus\",\"datePublished\":\"2019-09-27T07:00:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\\\/\"},\"wordCount\":733,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100711-gbp-eur-pound-hits-high.jpg\",\"keywords\":[\"Brexit\",\"ecb\",\"eur\",\"euro\",\"gbp\",\"germany\",\"IFO\",\"no deal\",\"parliament\",\"pound\",\"recession\",\"sabine Lautenschlaeger\",\"sterling\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101186-gbp-eur-pound-pushing-higher-brexit-talks-in-focus\\\/\",\"name\":\"GBP\\\/EUR: Pound Pushing Higher, Brexit Talks In Focus - 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