November 3, 2024 – Written by David Woodsmith
STORY LINK Pound Sterling Slides to 2-Week Lows vs Euro on ECB Re-Think
The Pound to Euro (GBP/EUR) exchange rate was subjected to very choppy trading following the budget and dipped to 2-week lows near 1.1935.
Following the latest Euro-Zone data and UK budget, expectations of ECB and Bank of England (BoE) interest rate cuts have both been scaled back.
Markets still expect a BoE rate cut in November, but expectations of another cut in December have faded.
This shift in expectations…
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