{"id":95834,"date":"2020-02-11T04:15:21","date_gmt":"2020-02-11T09:15:21","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95834"},"modified":"2020-02-11T04:18:14","modified_gmt":"2020-02-11T09:18:14","slug":"102337-gbp-eur-will-uk-gdp-drag-on-pound","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102337-gbp-eur-will-uk-gdp-drag-on-pound\/","title":{"rendered":"GBP\/EUR: Will UK GDP Drag On Pound?"},"content":{"rendered":"<ul>\n<li><a href=\"#gbp-102337\">Pound sterling firmed in the previous session as no trade deal Brexit fears eased, at least for the moment, and investors looked optimistically towards Boris Johnson\u2019s spending plans<\/a><\/li>\n<li><a href=\"#eur-102337\">The euro traded broadly flat versus its major peers on Monday, despite disappointing investor sentiment data<\/a><\/li>\n<\/ul>\n<p><a href=\"http:\/\/currencylive.com\/news\/currency\/gbp\">Pound sterling<\/a> trended higher versus the euro on Monday. The <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">pound euro exchange rate<\/a> rallied to a 5 day high of \u20ac1.1846 at the start to the week amid optimism surrounding UK infrastructure spending plans.<\/p>\n<p>Meanwhile the <a href=\"http:\/\/currencylive.com\/news\/currency\/eur\">euro<\/a> slipped on disappointing data and political concerns. <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a> closed the session 0.5% higher, ahead of a busy day for data today.<\/p>\n<h2 id=\"gbp-102337\">GBP firmed as no trade deal Brexit fears eased, investors more optimistic on Boris Johnson\u2019s spending plans<\/h2>\n<p><a href=\"http:\/\/currencylive.com\/news\/currency\/gbp\">The pound<\/a> firmed in the previous session as no trade deal <a href=\"http:\/\/currencylive.com\/news\/topic\/brexit\">Brexit<\/a> fears eased, at least for the moment, and investors looked optimistically towards Boris Johnson\u2019s spending plans. The Prime Minister gave the green light to High Speed Railway 2 (HS2) at the weekend. He also spoke of his enthusiasm for a bridge to connect Northern Ireland with Scotland. Increased government spending can have an inflationary effect, raising the possibility of an eventual rate hike from the central bank. As a result, the pound advanced.<\/p>\n<p>Today the spotlight will fall on a raft of UK <a href=\"http:\/\/currencylive.com\/news\/topic\/economics\">economic data<\/a> releases which could inject some volatility into the pound. The most closely watched release today will be U.K. GDP; the preliminary fourth quarter reading. Analysts are expecting economic growth to be flat quarter on quarter, as growth in household consumption is expected to be offset by falling inventories and slowing foreign trade.<\/p>\n<h2 id=\"eur-102337\">Euro traded broadly flat versus its major peers, despite disappointing investor sentiment data<\/h2>\n<p>The Sentix investor confidence index fell in January by more than analysts had forecast, declining to 5.2 in December down from 7.8 the previous month. This was the first fall in morale in 4 months, as concerns over the potential impact of coronavirus on the global economy starts to hit confidence.<\/p>\n<p>As the number of people infected with coronavirus increases and the death toll rises, investors are questioning its impact on the global supply chain. Questions are being raised as to whether this is a short-term shock or whether this will be a prolonged hit on the economy.<\/p>\n<p>Today there is no high impacting eurozone data for investors to focus on. Instead several European Central Bank policy makers will be giving speeches. These could provide further insight as to where the ECB intends to take monetary policy going forward.<\/p>\n<table width=\"602\">\n<tbody>\n<tr>\n<td><strong>What do these figures mean?<\/strong><\/td>\n<\/tr>\n<tr>\n<td>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:<\/p>\n<p>1 GBP = 1.13990 EUR<\/p>\n<p>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>Or, if you were looking at it the other way around:<\/p>\n<p><em>1 EUR = 0.87271 GBP<\/em><\/p>\n<p>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<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), 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":"<p>Pound sterling firmed in the previous session as no trade deal Brexit fears eased, at least for the moment, and investors looked optimistically towards Boris Johnson\u2019s spending plans The euro traded broadly flat versus its major peers on Monday, despite disappointing investor sentiment data Pound sterling trended higher versus the euro on Monday. The pound [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5599,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2139,1413,1395,1393,1394,1409,1457,1391,1392],"class_list":{"0":"post-95834","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-coronavirus","10":"tag-ecb","11":"tag-eur","12":"tag-euro","13":"tag-gbp","14":"tag-gdp","15":"tag-manufacturing","16":"tag-pound","17":"tag-sterling"},"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: Will UK GDP Drag On Pound? - 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\/102337-gbp-eur-will-uk-gdp-drag-on-pound\/\" \/>\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\\\/102337-gbp-eur-will-uk-gdp-drag-on-pound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102337-gbp-eur-will-uk-gdp-drag-on-pound\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Will UK GDP Drag On Pound?\",\"datePublished\":\"2020-02-11T09:15:21+00:00\",\"dateModified\":\"2020-02-11T09:18:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102337-gbp-eur-will-uk-gdp-drag-on-pound\\\/\"},\"wordCount\":790,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102337-gbp-eur-will-uk-gdp-drag-on-pound\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100640-gbp-eur-uk-gdp-and-eu-cpi-in-focus.jpg\",\"keywords\":[\"coronavirus\",\"ecb\",\"eur\",\"euro\",\"gbp\",\"gdp\",\"manufacturing\",\"pound\",\"sterling\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102337-gbp-eur-will-uk-gdp-drag-on-pound\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102337-gbp-eur-will-uk-gdp-drag-on-pound\\\/\",\"name\":\"GBP\\\/EUR: Will UK GDP Drag On Pound? 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