The pound euro (GBP/EUR) exchange rate is rising after two days of losses. The pair trades at €1.1335.
The pound is rising despite UK GDP growth slowing to just 0.1% QoQ in Q3, below forecasts of 0.2% and down from 0.3% in Q2.
The cyberattack on Jaguar Land Rover and caution ahead of the upcoming budget slowed the economy. Investors now see an 82% chance of a Bank of England rate cut next month.
Meanwhile, the euro is falling after industrial production rose 0.2% MoM in September, missing expectations of 0.7% but still an improvement from -1.1% MoM in August.Despite today’s dip, the euro remains near multi-year highs.