The pound euro (GBP/EUR) exchange rate is falling for a second straight day.
The pound is falling after UK GDP contracted by -0.3% MoM in October, worse than the 0% forecast and well down from the 0.2% growth in September. The data comes after wage growth slowed significantly yesterday.
The BoE will announce its rate decision on Thursday and is expected to keep rates unchanged and could reiterate keeping rates higher for longer.
The euro is rising despite eurozone industrial production falling -0.6% MoM in October, worse than the 0.3% forecast and after -1.1% fall in September.
The ECB rate decision is tomorrow and the central bank is expected to leave rates on hold.
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