The pound euro (GBP/EUR) exchange rate is falling lower towards €1.14 and is set to fall 0.7% across the week.
The pound trades under pressure as the contest for the new Prime Minister begins. After Truss resigns, Boris Johnson and Rishi Sunak are early front runners.
UK retail sales fell -1.4% MoM, more than the -0.5% forecast, highlighting the struggles households are feeling.
The euro is rising after German PPI data stayed high at 45.8% YoY in September.
Today eurozone consumer confidence data is expected to show that morale tumbled to a new record low to -30, down from -28.8.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
