{"id":82857,"date":"2019-11-29T03:00:14","date_gmt":"2019-11-29T08:00:14","guid":{"rendered":"https:\/\/currencylive.com\/?p=82857"},"modified":"2019-11-29T02:51:33","modified_gmt":"2019-11-29T07:51:33","slug":"101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\/","title":{"rendered":"GBP\/USD: Pound Dips As Polls & Black Friday To Drive Trading"},"content":{"rendered":"\n\n\n
\"\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Volatility in the pound continued on Thursday with the pound giving back some of the gains from the previous session. The pound US dollar exchange rate rallied to a 5-day high of US$1.2951 before trending lower across the latter part of the day. The pair closed down 0.1% at $1.2912. The pound is edging lower in early trade on Friday.<\/p>\n

The pound has flitted between gains and losses across the week. Election speculation has been the root cause of the volatility ahead of the British elections in under 2 weeks. The pound surged in early trade on Thursday after the MRP poll predicted a 68-seat majority would be won by the Conservative party.<\/p>\n

The MRP poll uses a new polling method and is considered to be the most accurate poll ahead of the elections. Investors are tying a strong Tory majority to a Brexit deal being ratified by Parliament enabling the UK to leave the EU with a deal by 31st December. This is the most believable way for the UK to avoid a damaging no deal Brexit.<\/p>\n

The pound quickly gave up the poll inspired spike higher as investors grew cautious. Firstly, the MRP poll does not reflect recent political developments. Secondly investors fear that the polls could encourage complacency from the Conservative HQ. These fears have been compounded by Boris Johnson\u2019s no show on a live TV debate on the environment.<\/p>\n

Polls will continue to drive movement in the pound on Friday. Investors will also look ahead to UK GFK Consumer confidence data. Analysts are expecting household sentiment to remain depressed in November. If this is the case it doesn\u2019t bode well for the crucial holiday shopping period. When consumers are feeling less confident, they often spend less. This is bad news for the UK economy and inflationary pressure. Therefore, a weak reading could drag on the pound.<\/p>\n

Dollar Trading Volumes To Remain Thin<\/strong><\/h3>\n

The previous session was a dull session for the US dollar owing to the Thanksgiving holiday. US stock markets were closed and the US dollar experienced thin volumes.<\/p>\n

The US China trade disputes has been in focus across the week. However, just as both sides were agreeing that they were close to signing a phase one trade deal President Trump signed the Hong Kong bill into law. This was a move that could rock an already very fragile relationship. China had pre-warned Trump not to interfere in China\u2019s domestic issues. Whilst China has threatened to react it stopped short of taking any action. Risk appetite took a slight hit.<\/p>\n

Today the US markets are close for half a day. It is also Black Friday, one of the busiest shopping days of the calendar. Investors will be looking to see how retailers are fairing to gauge the health of the consumer<\/p>\n\n\n\n
\"\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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

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

1 GBP = 1.28934 USD<\/em><\/p>\n

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.<\/p>\n

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

1 USD = 0.77786 GBP<\/em><\/p>\n

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.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n
Currencylive.com<\/em> is a news site only and not a currency trading platform.<\/em><\/h6>\n
Currencylive.com is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any 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 on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Volatility in the pound continued on Thursday with the pound giving back some of the gains from the previous session. The pound US dollar exchange rate rallied to a 5-day high of US$1.2951 before trending lower across the latter part of the day. The pair closed down 0.1% at $1.2912. The pound is edging lower […]<\/p>\n","protected":false},"author":163946597,"featured_media":3587,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1911,1396,1386,1657,1435,1389,1394,1387,1431,1397,1398],"class_list":["post-82857","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-black-friday","tag-boris-johnson","tag-brexit","tag-british-pound","tag-consumer-confidence","tag-elections","tag-gbp","tag-inflation","tag-trade-war","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"\nGBP\/USD: Pound Dips As Polls & Black Friday To Drive Trading - 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\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\/\" \/>\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\\\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Dips As Polls & Black Friday To Drive Trading\",\"datePublished\":\"2019-11-29T08:00:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\\\/\"},\"wordCount\":842,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100037-gbp-eur-uk-retail-sales-soar.jpg\",\"keywords\":[\"black Friday\",\"boris johnson\",\"Brexit\",\"british pound\",\"consumer confidence\",\"Elections\",\"gbp\",\"Inflation\",\"trade war\",\"us dollar\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101631-gbp-usd-pound-dips-as-polls-black-friday-to-drive-trading\\\/\",\"name\":\"GBP\\\/USD: Pound Dips As Polls & Black Friday To Drive Trading - 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