The pound is still weaker against the euro this morning and has fallen below the 1.18 mark.
This is due to a change of expectations ahead of the Bank of England’s meeting tomorrow. The markets had initially anticipated an interest rate rise; however, it’s now thought that rates won’t be hiked at tomorrow’s meeting.
Later today, services and composite PMI figures will be released for the UK, revealing how the services and manufacturing industries performed in October. A slight improvement is expected in both areas.
