{"id":97700,"date":"2020-03-19T03:00:39","date_gmt":"2020-03-19T07:00:39","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97700"},"modified":"2020-03-19T03:34:33","modified_gmt":"2020-03-19T07:34:33","slug":"102733-gbp-eur-pound-continues-to-bleed-value-vs-euro","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\/","title":{"rendered":"GBP\/EUR: Pound Continues To Bleed Value vs Euro"},"content":{"rendered":"

The Pound<\/a> is falling again in early trade on Thursday, after bleeding value against the euro<\/a> on Wednesday. The Pound Euro exchange rate was plunged 3.4% hitting a low of \u20ac1.0537 on Wednesday.<\/p>\n

At 06:00 UTC, Pound versus Euro<\/a> was trading -0.7% at \u20ac1.0553 after striking a fresh low of US$1.0524. GBP\/EUR<\/a> has lost 9% since the beginning of the year.<\/p>\n

Check real time GBP to EUR exchange rate<\/span><\/a><\/div>\n

Pound Free Falls<\/h2>\n

The Pound is under immense pressure across the board. As always, such large moves in the FX market are rarely driven by a single factor. However, the UK\u2019s government\u2019s \u201cherd immunity\u201d approach towards coronavirus resulted in a 55% increase in the number of coronavirus deaths in a single day. This was a headline that sent fear through the market. There were also 700 new cases (recorded) bringing the official number to 2,600, although the real number is expected to be many times this.<\/p>\n

The shaky sterling fundamentals is expected to keep the pound out of favour, regardless of the blowout fiscal response from Chancellor Sunak. The spread of coronavirus is already negatively impacting the UK economy. Following a sharp U-turn from Boris Johnson, Schools are due to close on Friday and the potential of a London lock down in the coming days is high. These are measures which will affect the economy even more. The outlook for sterling is far from optimistic.<\/p>\n

ECB Announces \u20ac750 Billion Bond Buying Programme<\/h2>\n

The eurozone traded broadly mixed in the previous session, advancing versus the Pound, but declining versus the mighty US Dollar. Coronavirus outbreaks continue to grow exponentially in Europe, with a recession as good as confirmed.<\/p>\n

German, now with 11,000 cases has shut its borders and Chancellor Angela Merkel called the coronavirus Germany\u2019s biggest challenge since World War 2.<\/p>\n

On Wednesday the European Central Bank announced a huge new money pronting programme simed at keeping the regions financial system functioning whilst also helping the economy cope with the economic shock caused by the coronavirus outbreak. The ECB said it will spend \u20ac750 billion buying government debt before the end of the year. The ECB also said that it stands ready to buy more if necessary.<\/p>\n

There is no high impacting eurozone data due for release today. Investors will continue monitoring the latest coronavirus developments.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Pound is falling again in early trade on Thursday, after bleeding value against the euro on Wednesday. The Pound Euro exchange rate was plunged 3.4% hitting a low of \u20ac1.0537 on Wednesday. At 06:00 UTC, Pound versus Euro was trading -0.7% at \u20ac1.0553 after striking a fresh low of US$1.0524. GBP\/EUR has lost 9% […]<\/p>\n","protected":false},"author":163946597,"featured_media":5569,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2437,1413,1395,1393,1394,2410,2479,1391,1514],"class_list":{"0":"post-97700","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-coronvirus","10":"tag-ecb","11":"tag-eur","12":"tag-euro","13":"tag-gbp","14":"tag-gbp-eur","15":"tag-lock-down","16":"tag-pound","17":"tag-qe"},"acf":[],"yoast_head":"\nGBP\/EUR: Pound Continues To Bleed Value vs Euro - 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\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\/\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/EUR: Pound Continues To Bleed Value vs Euro\",\"datePublished\":\"2020-03-19T07:00:39+00:00\",\"dateModified\":\"2020-03-19T07:34:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\\\/\"},\"wordCount\":407,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100624-gbp-eur-no-deal-brexit-fears.jpg\",\"keywords\":[\"coronvirus\",\"ecb\",\"eur\",\"euro\",\"gbp\",\"gbp\\\/eur\",\"lock down\",\"pound\",\"QE\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102733-gbp-eur-pound-continues-to-bleed-value-vs-euro\\\/\",\"name\":\"GBP\\\/EUR: Pound Continues To Bleed Value vs Euro - 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