The pound euro (GBP/EUR) exchange rate is rising, adding to last week’s gains.
The euro fell after Sentix investor confidence fell to -17.5, a 13-month low, from -12.8. The deteriorating sentiment comes amid a weaker economic outlook and political uncertainty in France and Germany.
The ECB rate decision is on Thursday. The ECB is set to cut rates by 25 basis points to 3%.
The pound is rising, but gains could be limited as demand for UK workers collapsed last month following the Labour government’s first budget.
The REC & KPMG index dropped to 43.9, a historic low last seen in the pandemic, the global financial crisis after the September 2001 terrorist attack.