Pound Plunges to 9 Month Low Versus the Euro as BoE Disappoints

The pound euro (GBP/EUR) exchange rate is edging lower after three days of gains.

The pound rose yesterday despite UK government borrowing jumping to the highest level ever recorded for August.

All eyes are on the BoE’s interest rate decision. Will they hike by 50 or 75 basis points?

The euro fell yesterday after Russian President Putin announced the mobilisation of more troops to support the war in Ukraine. He also threatened a nuclear if needed.

Today invesors will look to Eurozone consumer confidence data, which is expected to fall again.