The pound euro (GBP/EUR) exchange rate is falling at the start of the week.
The pound is falling, paring last week’s rally following Chancellor Rachel Reeves’ budget, which eased concerns over the UK’s long-term finances.
With political uncertainty reduced, sterling rallied, but focus now returns to the Bank of England, where markets see a 90% chance of a December rate cut after a narrow vote in the prior meeting. The euro gained on rising hopes of a Russia-Ukraine peace deal, as the two sides move closer to a deal.
Attention is also shifting to Eurozone inflation data due tomorrow, which is expected to support the view that the ECB is as good as done cutting rates.
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