The pound euro (GBP/EUR) exchange rate is falling for a fourth straight day to €1.1365.
The pound is falling after the OECD forecast a fall in growth from 1.4% this year to 1.2% next year, although this is an upward revision.
The slowdown in growth follows a budget that included £26 billion in tax increases, which is expected to weigh on future growth. The UK is set to be the second-fastest-growing G7 economy this year but is expected to slip behind Canada in 2026.
The euro is rising after hotter-than-expected eurozone inflation at 2.2%, with services inflation at 3.5%. The ECB is expected to keep rates unchanged on December 18, with just a 30% chance of a 25 bps rate cut by June next year.
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