The pound euro (GBP/EUR) exchange rate is just a few points lower on Monday, steadying after losses last week.
The pound steadied at the start of the week after UK Chancellor Rachel Reeves warned at the Labour conference that fiscal discipline is vital to preserve market confidence.
Her comments come ahead of November’s budget. Elevated borrowing and weak gilt auctions have pushed 30-year yields to a 30-year high, underscoring investor concerns.
The EUR is edging higher after eurozone sentiment improved slightly in September, with the EC’s index rising to 95.5, hinting at cautious optimism amid improving trade clarity with the US.
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