The pound euro (gbp/eur) exchange rate is rising for a third straight day, rising towards €1.1850.
The euro is under pressure after the shock French election results. The left-wing alliance came out on top, but not with an absolute majority. This means there will be a hung Parliament. As talks between parties begin, there is still a lack of clarity over who will form a government.
The pound is rising after a smooth transition of power to Kier Stamer from outgoing PM Rishi Sunak. The new Chancellor, Rachel Reeves, has pledged stability and is planning reforms.
The RBC revealed that fewer companies are planning to raise prices over the coming months.
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