October 28, 2024 – Written by Tim Boyer
STORY LINK Pound Sterling Edges Lower vs Euro, Dollar Ahead of UK Budget
The Pound to Euro (GBP/EUR) exchange rate has drifted just below the 1.2000 level. Oil prices slumped on Monday as the Israeli strike on Iran avoided oil infrastructure, and this provided net Euro support in global markets.
Domestically, markets will be focussing on the crucial UK budget.
Rabobank is wary over near-term fiscal risks, but still expecting net longer-term Pound gains; “our central view remains that EUR/GBP…
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