The pound euro (GBP/EUR) exchange rate is falling towards €1.1430, a 2-month low.
The pound is falling on fiscal concerns ahead of the November budget and political uncertainty surrounding a possible challenge to Prime Minister Keir Starmer’s leadership, which weighs on sentiment.
The growth outlook is weak, as higher hiring costs and sticky inflation are likely to slow growth.
Meanwhile, the euro edged higher after Germany’s GfK sentiment index improved to -22.3 in October, up from -23.5 in September, though persistent inflation and global tensions continue to dampen economic expectations.
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