The pound euro (GBP/EUR) exchange rate is falling to a 4-month low.
The pound rose yesterday after UK CBI retail sales improved, rising to a 3-month high from a 2-year low in August.
The pound is falling as investors doubt that the BoE will raise interest rates again in November amid rising fears of a recession.
The euro trades higher after ECB President Christine Lagarde reiterated the central bank’s determination to tame inflation. Treasury yields in Germany hit an 12 year high on expectations that rates will stay high for longer..
However, with concerns of a recession in the region rising, there are questions over whether the ECB will raise rates again.
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