The pound-euro (GBP/EUR) exchange rate is falling after gains yesterday.
The euro rises despite the French government collapsing as Michel Barnier loses a vote of no-confidence, as was expected. The vote came after PM Barnier pushed a Budget through without Parliament’s approval.
Eurozone retail sales fell -0.5% MoM after rising 0.5% in September. This was below forecasts of -0.3%.
The pound is falling following a BoE survey showing that firms are expecting lower profit margins and will consider passing on rising costs following the Budget, which raised employers’ National insurance contributions.