Pound Sterling is headed for its biggest weekly slide against the Euro since December 2023.
The Euro was higher against major peers after Eurozone inflation figures for June beat expectations and raised questions about the appropriateness of another European Central Bank (ECB) interest rate cut.
German inflation beat expectations and set up the prospect of a sticky all-Eurozone inflation print midweek and raises fresh doubts over a September rate cut at the European Central Bank (ECB).
"Huge" Interest Rate Cuts and Austerity to Send Pound Sterling Lower Against Euro and Dollar
- Category: EUR
The fiscal straight-jacket of the UK's fiscal rules means the feel-good factor for the Pound can soon end.