{"id":118733,"date":"2025-01-06T12:36:02","date_gmt":"2025-01-06T12:36:02","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=118733"},"modified":"2025-01-06T15:19:45","modified_gmt":"2025-01-06T15:19:45","slug":"109300-gbp-eur-pound-falls-after-business-confidence-falls","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/109300-gbp-eur-pound-falls-after-business-confidence-falls\/","title":{"rendered":"GBP\/EUR: Pound falls after business confidence falls"},"content":{"rendered":"<ul>\n<li><strong>Pound (GBP) falls, extending last week\u2019s losses<\/strong><\/li>\n<li><strong>UK business confidence plunges post-budget<\/strong><\/li>\n<li><strong>Euro (EUR) rises after Eurozone PMI improves<\/strong><\/li>\n<li><strong>German inflation data is due shortly<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (<a href=\"https:\/\/currencylive.com\/exchange-rate\/1000-gbp-to-eur-exchange-rate-today\/\">GBP\/EUR<\/a>) exchange rate is falling after losses last week. The pair fell -0.10% in the previous week, settling on Friday at \u20ac1.2048. It traded in a range between \u20ac1.2010 and \u20ac1.2110. At 12:00 UTC, GBP\/EUR trades -0.09% at \u20ac1.2046.<\/p>\n<p>The pound is falling as UK business confidence has fallen to its lowest level in two years, according to a British Chamber of Commerce survey.<\/p>\n<p>A majority of firms expect prices to increase over the next three months as they pass on higher taxes and an increase in the minimum wage, which was announced in the October budget. The survey showed that 63% of firms are now worried about tax, marking the highest reading since records began in 2017. Meanwhile, less than 50% expect their turnover to increase over the coming year, down from 56% before the budget was announced.<\/p>\n<p>Adding to the downbeat mood, the UK PMI figures were revised downward. The service sector PMI eased to 51.1, down from 51.4 in the preliminary reading. Meanwhile, the composite PMI was also downwardly revised to 50.4 from 50.5.<\/p>\n<p>The euro is pushing higher after an upward revision to the eurozone PMI figures. The data showed that the eurozone services PMI for December was finalised at 51.6, an improvement from November&#8217;s 49.5 and cyclic signalling a return to growth after a brief contraction.<\/p>\n<p>Meanwhile, the composite PMI edged higher to 49.6, up from November&#8217;s 48.3, although this still indicates a slight contraction in overall activity.<\/p>\n<p>The data also showed that services inflation remained elevated, boosted by rising wages and higher costs passed on to the customer. This could support expectations that the ECB will take a cautious approach to cutting rates further.<\/p>\n<p>German inflation data is due later today and is expected to show that inflation has remained at 2.4% year over year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) falls, extending last week\u2019s losses UK business confidence plunges post-budget Euro (EUR) rises after Eurozone PMI improves German inflation data is due shortly The Pound Euro (GBP\/EUR) exchange rate is falling after losses last week. The pair fell -0.10% in the previous week, settling on Friday at \u20ac1.2048. It traded in a range [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5408,"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-118733","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":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound falls after business confidence falls - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/109300-gbp-eur-pound-falls-after-business-confidence-falls\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-gbp-eur-pound-falls-after-business-confidence-falls\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-gbp-eur-pound-falls-after-business-confidence-falls\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Pound falls after business confidence falls\",\"datePublished\":\"2025-01-06T12:36:02+00:00\",\"dateModified\":\"2025-01-06T15:19:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-gbp-eur-pound-falls-after-business-confidence-falls\\\/\"},\"wordCount\":322,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-gbp-eur-pound-falls-after-business-confidence-falls\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100928-gbp-eur-possible-brexit-extension.jpg\",\"keywords\":[\"eur\",\"eur\\\/gbp\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2025\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-gbp-eur-pound-falls-after-business-confidence-falls\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/109300-gbp-eur-pound-falls-after-business-confidence-falls\\\/\",\"name\":\"GBP\\\/EUR: Pound falls after business confidence falls - 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