The pound-euro (GBP/EUR) exchange rate edged higher on Friday but remains pressurised.
The pound experienced its steepest weekly decline against the dollar in a month, weighed down by fiscal concerns and weak UK growth momentum.
Rising public borrowing, softening services and manufacturing activity, and poor gilt demand have soured sentiment ahead of the November 26 budget.
The euro weakened despite Spain’s strong 0.8% growth in Q2, the fastest in the eurozone, with unemployment falling to its lowest level since 2008.
Broader eurozone growth remains stagnant, although euro support persists as markets expect no further ECB rate cuts in the near future.
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