The pound euro (GBP/EUR) exchange rate is rising for a fourth straight day and is set to rise 0.22% across the week.
The pound has pushed higher despite a sharp contraction in UK construction activity as the PMI dropped to 45 in September from 50.8 in September.
There is no high impacting UK economic data due to be released.
The euro is falling despite German factory orders rising by more than expected, +3.9% MoM after plunging 11.3% in July.
The data comes after German exports fell 1.2% in August and German manufacturing PMIs remained in contraction for another month. The data points to a prolonged downturn in the eurozone’s largest economy.
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