ECB cut interest rates<\/a> by 25 basis points in line with expectations and the first cut since 2019.<\/p>\nThe central bank is not pre-committing to any path for interest rates, which has helped to support the EUR.<\/p>\n
The pound is falling despite UK construction activity reaching a 2-year high in May. The construction PMI reached 54.7 up from 53 in April.<\/p>\n
However, the Composite PMI released earlier in the week, which is a good gauge for business activity fell slightly due to weaker growth in the services sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound euro (GBP\/EUR) exchange rate is falling below \u20ac1.1750. The euro has risen after the ECB cut interest rates by 25 basis points in line with expectations and the first cut since 2019. The central bank is not pre-committing to any path for interest rates, which has helped to support the EUR. The pound […]<\/p>\n","protected":false},"author":163946598,"featured_media":4640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,2649,1394,2410],"class_list":["post-117854","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-eur-gbp","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"\n
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