The pound-euro (GBP/EUR) exchange rate is holding steady at €1.20 after yesterday’s gains.
The pound is flat despite UK government borrowing rising to £17.4 billion in October. This is the second-largest October borrowing total since records started in 1993.
The data gives the Chancellor little wiggle room to increase public sector spending after her Autumn Budget.
The EUR is flat despite dovish comments from ECB’s Villeroy de Galhau, who doesn’t see inflationary impacts from possible Trump tariffs.
Eurozone consumer confidence is due to be released shortly.
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