euro-bank-notes - EUR

The pound euro (GBP/EUR) exchange rate is rising for a second straight day.

The pound pushed higher yesterday after the BoE’s chief economist hinted at a large interest rate hike in November.

There is no high impacting UK data due today. Attention remains on the gilt market as BoE support is due to end on Friday.

Today the euro is slipping despite German inflation confirming the record high 10.9%, up from 8.8% annually in August.

Hot inflation mounts pressure on the ECB for another jumbo-sized hike later this month.