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GBP/EUR: Pair falls for a 3rd straight week

The pound-euro (GBP/EUR) exchange rate rose on Friday but fell across he week for a third straight week.

The pound fell last week as investors digested the BoE rate decision and looked ahead to the November 26 budget.

A narrow BoE vote split raised expectations of a December rate cut, while forecasts for tax hikes and spending cuts could give the BoE more room to ease next year.

The euro rose last week, supported by ongoing expectations that the ECB has ended its rate-cutting cycle.

German trade data showed resilient domestic demand. Imports jumped 3.1% and seasonally adjusted exports rose 1.4% month on month. The German trade balance fell to an 11-month low.

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