The pound euro exchange rate is falling again after a brief respite yesterday.
The pound remains under pressure as confidence continues to fall following the Chancellor’s mini-budget.
Lenders are pulling mortgages amid the uncertainty over interest rates, which could reach as high as 5.5% by March next year.
The euro fell yesterday after problems with the Nord Stream pipeline, which Russia is accused of deliberately attacking. Gas prices jumped 10%.
Today attention turns to German GFK consumer sentiment which is expected to fall to -39 in October from -36.5.