The pound fell against a basket of currencies yesterday following the Bank of England’s announcement to keep interest rates unchanged. Against the euro, sterling fell by almost 1%, the largest single-day decline since late September.
Markets had largely been anticipating a rate hike in November, so yesterday’s decision came as a surprise.
In the eurozone, business growth in October was the slowest in six months. Supply chain bottlenecks and continued issues related to the pandemic are thought to be the cause.
US non-farm payrolls are due to be released later today, with 400,000 jobs expected to have been added in October. Any surprises could impact the greenback.
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