Sterling hovers near highest level against euro since Brexit vote

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Financial Times 13h ago

Sterling hovers near highest level against euro since Brexit vote - Financial Times

Quick Summary:

However, investors broadly expect the BoE to keep its benchmark lending rate steady when it meets next week.

The euro dipped as low as £0.8224 ahead of the ECB’s interest rate decision, putting it close to the £0.8201 hit in March 2022.

Overall, traders expect the ECB to cut by 1.5 percentage points by the end of next year, while the BoE is only expected to cut by 0.75 percentage points over that time, according to levels in swaps markets.