Forex
GBP Slumps Below 1.1650 as UK Growth Concerns Intensify
The British Pound to Euro exchange rate has fallen below 1.1650 to around 1.1635 due to mixed UK business surveys and persistent concerns over government debt weighing on Sterling.
The Pound to Euro (GBP/EUR) exchange rate dipped on Wednesday amid mixed UK data and ongoing unease surrounding UK debt levels.
The latest Euro-Zone economic data suggested economic resilience, potentially supporting the Euro, but there are further concerns surrounding debt dynamics, especially in France.
According to flash data for September, the UK manufacturing index strengthened to a 3-month high of 52.0 from 51.7 previously and above consensus forecasts of 51.5.