The pound euro (GBP/EUR) exchange rate is rising after two days of losses.
The pound is rising, benefitting from the improved market mood after China announced more stimulus measures.
The pound is also rising amid BoE—ECB monetary policy divergence. The BoE has warned that it won’t rush rate cuts.
The euro is falling despite GFK German consumer confidence improving slightly in October to -21.2 from -21.9. However, this after several months of sharp declines in morale.
Recent data from Germany has raised concerns that the eurozone’s largest economy is heading for a recession.
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