The pound euro (GBP/EUR) exchange rates falls for a second straight day, dropping below €1.1950.
The pound slumps due to falling confidence in the UK fiscal outlook, lifting government borrowing costs sharply.
UK gilts dropped steeply along with the pound in signs of capital flight, raising fears the Labour government may need to hike taxes or cut spending to bring public finance under control.
The euro is rising against the pound but falls against the USD after weaker-than-expected Eurozone retail sales. Sales rose just 0.1% MoM in November, up from -0.3% in October but below the 0.4% rise forecast.
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