The pound-euro (GBP/EUR) exchange rate is rising, recovering some of yesterday’s steep losses.
The pound is rebounding after BoE’s Huw Pill warned about cutting rates too fast. His comments came after the BoE Governor yesterday sent the pound tumbling after saying that rates may be cut more aggressively. He sent the pound to a 2-week low.
The euro is under pressure from rising expectations that the ECB will cut rates aggressively. Inflation has fallen below the 2% target, and business sentiment in the region is deteriorating.
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