{"id":96576,"date":"2020-02-26T03:00:28","date_gmt":"2020-02-26T08:00:28","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=96576"},"modified":"2020-02-26T02:10:50","modified_gmt":"2020-02-26T07:10:50","slug":"102499-gbp-usd-pound-sub-us1-30-on-brexit-concerns-coronavirus-headlines","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102499-gbp-usd-pound-sub-us1-30-on-brexit-concerns-coronavirus-headlines\/","title":{"rendered":"GBP\/USD: Pound Sub US$1.30 On Brexit Concerns &#038; Coronavirus Headlines"},"content":{"rendered":"<p>The pound is pulling back from the one week high struck on Tuesday. The pound US dollar exchange rate rallied to a peak of US$1.3018 in the previous session on broad dollar weakness and encouraging mid-tier UK data.<\/p>\n<p>GBP\/USD is trading -0.1% at US$1.2990 at 06:15 GMT as the dollar steadies and as Brexit moves back under the spotlight.<\/p>\n<h3><strong>UK Shop Prices Fall, Brexit In Focus<\/strong><\/h3>\n<p>The pound is on the back foot in early trade on Wednesday after data revealed that shop prices fell this month amid weak consumer demand. The British Retail Consortium (BRC) shop price index showed that prices fell -0.6% in February, compared with a 0.3% decline in the previous month. Whilst consumers will welcome the fall in prices, they could also point a softening in inflation.<\/p>\n<p>Last month inflation ticked up to 1.8% just shy of the Bank of England\u2019s 2% target. Early signs suggest that this could be a temporary spike higher. Falling inflation is pound negative because the central bank will be more inclined to cut interest rates than hike rate.<\/p>\n<p>Today there is no high impacting UK economic data due to be released. Investors will continue to focus on Brexit ahead of the start of post Brexit trade talks next week. Ministers from the EU have approved their mandate. It says that EU rules should serve as a reference point.<\/p>\n<p>UK ministers have agreed the government\u2019s mandate which will be published on Thursday.<\/p>\n<h3><strong>US Dollar Volatility On CDC Warning<\/strong><\/h3>\n<p>The dollar inched higher in early trade on Wednesday, however gains have been limited as the Federal health authorities warned that they expect a wider spread of coronavirus in the US.<\/p>\n<p>Nancy Messonnier, the director of National Centre for Immunization and Respiratory Diseases at the Centres for Disease Control and Prevention (CDC) warned over the coronavirus outbreak, saying in a news briefing that the CDC expect a rise in the number of cases.<\/p>\n<p>US stocks dived following her remarks. The dollar also fell as investors attempt to gauge the potential economic impact that coronavirus could have and increase the odds of an interest rate cut by the Federal Reserve. However, the greenback is recovering in early trade today.<\/p>\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>The pound is pulling back from the one week high struck on Tuesday. The pound US dollar exchange rate rallied to a peak of US$1.3018 in the previous session on broad dollar weakness and encouraging mid-tier UK data. GBP\/USD is trading -0.1% at US$1.2990 at 06:15 GMT as the dollar steadies and as Brexit moves [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5374,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[2339,1386,2395,2139,1394,2396,1391,1392,1397,1398],"class_list":{"0":"post-96576","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-brc","10":"tag-brexit","11":"tag-cdc","12":"tag-coronavirus","13":"tag-gbp","14":"tag-nancy-messonnier","15":"tag-pound","16":"tag-sterling","17":"tag-us-dollar","18":"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 Sub US$1.30 On Brexit Concerns &amp; Coronavirus Headlines - 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\/102499-gbp-usd-pound-sub-us1-30-on-brexit-concerns-coronavirus-headlines\/\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102499-gbp-usd-pound-sub-us1-30-on-brexit-concerns-coronavirus-headlines\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102499-gbp-usd-pound-sub-us1-30-on-brexit-concerns-coronavirus-headlines\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Sub US$1.30 On Brexit Concerns &#038; 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