October 22, 2024 – Written by David Woodsmith
STORY LINK China Rate Cut Offers Some Euro Protection, Pound to Eur Rate Settles
After hitting 30-month highs just above 1.2050 last week, the Pound to Euro (GBP/EUR) exchange rate has lost ground on Monday and settled just below 1.2000.
The Chinese central bank cut interest rates on Monday with the prime loan rate cut to 3.10% from 3.35%.
Although markets had expected a cut, the move did help underpin confidence in the Chinese outlook and provided an element of Euro…
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