{"id":99983,"date":"2020-05-12T03:00:20","date_gmt":"2020-05-12T07:00:20","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=99983"},"modified":"2020-05-12T05:28:26","modified_gmt":"2020-05-12T09:28:26","slug":"103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\/","title":{"rendered":"GBP\/USD: Pound Slips On Fears of Economic Scars, US Inflation Up Next"},"content":{"rendered":"<ul>\n<li><strong>UK household spending drops -40%, vs 30% forecast by BoE<\/strong><\/li>\n<li><strong><a href=\"http:\/\/currencylive.com\/news\/topic\/brexit\">Brexit<\/a> talks seeing little progress<\/strong><\/li>\n<li><strong>US consumer price inflation exp -0.8% mom April<\/strong><\/li>\n<li><strong>GBP\/USD -0.1% at US$1.2318 at 07:15 UTC. <a href=\"https:\/\/currencylive.com\/exchange-rate\/\">Real time exchange rates<\/a><\/strong><\/li>\n<\/ul>\n<p>The Pound is falling versus the US Dollar for a second straight session on Tuesday. The Pound US Dollar exchange rate settled on Monday -0.65% at US$1.2336, wiping out gains from the end of last week.<\/p>\n<p>At 07:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\">GBP\/USD<\/a> is trading -0.1% at US$1.2318 amid growing fears of a second wave of covid-19 infections and as investors look ahead to US inflation data.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-to-usd-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time GBP to USD exchange rate<\/span><\/a><\/div>\n<p>The Pound is trading on the back foot as concerns over the impact of coronavirus on the UK economy weighs on demand. According to real time data from a large survey of bank accounts, household spending dropped by 40% in April. This is significantly worse than the 30% that the Bank of England forecast when it concluded that the UK was heading for the worst recession in 300 years.<\/p>\n<p>The data comes after the BoE\u2019s Chief economist Andy Haldane warned that the pandemic will leave permanent scars on Britain\u2019s economy as households and businesses cut back on spending.<\/p>\n<p>Brexit is also keeping the Pound under pressure as trade talks continue. These are the penultimate round of talks prior to the June deadline for extending the 31<sup>st<\/sup> December transition deadline. Headlines suggest little progress has been made on sticking points.<\/p>\n<p>There is no high impacting UK data today. Investors will look ahead to a barrage of data due for release tomorrow. The most closely watched reading will be GDP, which analyst predict will -7% month on month in March.<\/p>\n<p>The US Dollar is holding on gains from the previous session amid a broad risk off climate and rising safe haven demand. As countries continue to reopen fears are growing over the prospect of a second wave of infections.<\/p>\n<p>Looking ahead US inflation data is expected to attract some attention in addition to numerous Federal Reserve policy makers hitting the airwaves.<\/p>\n<p>Analysts are expecting US inflation, as measured by consumer prices to decline -0.8% month on month in April as consumption dropped sharply in lockdown. Onan annual basis inflation is expected to increase 0.4%, well short of the Fed\u2019s 2% target.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK household spending drops -40%, vs 30% forecast by BoE Brexit talks seeing little progress US consumer price inflation exp -0.8% mom April GBP\/USD -0.1% at US$1.2318 at 07:15 UTC. Real time exchange rates The Pound is falling versus the US Dollar for a second straight session on Tuesday. The Pound US Dollar exchange rate [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5176,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1408,1394,2752,1387,1391,1397,1398],"class_list":{"0":"post-99983","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-usd","9":"tag-fed","10":"tag-gbp","11":"tag-household-spending","12":"tag-inflation","13":"tag-pound","14":"tag-us-dollar","15":"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 Slips On Fears of Economic Scars, US Inflation Up Next - 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\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\/\" \/>\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\\\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Pound Slips On Fears of Economic Scars, US Inflation Up Next\",\"datePublished\":\"2020-05-12T07:00:20+00:00\",\"dateModified\":\"2020-05-12T09:28:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\\\/\"},\"wordCount\":418,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100803-gbp-usd-will-pound-fall-vs-dollar.jpg\",\"keywords\":[\"fed\",\"gbp\",\"household spending\",\"Inflation\",\"pound\",\"us dollar\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103186-gbp-usd-pound-slips-on-fears-of-economic-scars-us-inflation-up-next\\\/\",\"name\":\"GBP\\\/USD: Pound Slips On Fears of Economic Scars, US Inflation Up Next - 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