GBP/EUR: Brexit Nerves Weigh On Pound

The pound euro (GBP/EUR) exchange rate is rising for a second straight day, pushing above €1.1550.

The pound rose after Chancellor Hunt scrapped most of the mini-budget to restore confidence in the UK economic outlook. He also put a deadline of next April on the household energy support bill.

It is questionable as to whether PM Truss will make it through the week. All eyes will remain on Westminster.

The euro slipped yesterday in quiet trade yesterday after a downward revision to Italian inflation data.

Today attention is on German ZEW economic sentiment data, which is expected to show a deterioration in morale to -66 in October, from -61.9