The pound euro (GBP/EUR) is falling after small gains in the previous session.
The euro is rising after German business confidence improves slightly, albeit from a low base. German IFO business climate rose to 86.9 in October, up from 85.7 in September. Economists forecast a rise to 85.9.
The data comes after weak German PMI data yesterday which pointed to the German economy being in a recession.
The pound is falling as the market expects the BoE to keep rates unchanged in the November meeting, particularly after yesterday’s weak PMI data.
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