Pound Boosted Versus Euro by Manufacturing PMI’s

The Pound Euro (GBP/EUR) exchange rate is holding steady over €1.10 after a solid run in the previous session.

UK Q2 GDP was upwardly revised very slightly to -19.8% from -20.4%, still a record-breaking contraction.

The BoE’s chief economist Andy Haldane predicts a 20% surge in the economic growth in Q3.

Manufacturing PMI data is in focus, expectations are for a confirmation of the initial September reading of 54.3.

The Euro was under pressure in the previous session over inflation concerns, as highlighted by ECB President Christine Lagarde.

German manufacturing PMI is expected to confirm 56.6.