Over the course of the day, sterling lost around 1% to the Canadian and Australian dollars and 0.6% against the yen and US dollar. However, it strengthened marginally against the euro, as the markets came to the conclusion that the ECB’s rate-rising cycle is now over.
There has been no major change in direction this morning.
Next week starts slowly, but on Wednesday there will be the all-important inflation data, a prelude to the Bank of England’s interest rate decision on Thursday.
GBP/EUR past year
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