The British Pound has rallied to its most significant level against the Euro in more than two years, after registering a substantial 0.65% the day before, bringing it to its highest since March 2022.
Euro exchange rates fell after PMI data revealed that the Eurozone economy contracted in September, with substantial slowdowns in activity in France and Germany.
Meanwhile, in the United States, the gap between the services and manufacturing sectors widened, with the former rising to 55.4 and the latter falling to 47.0.
Looking ahead, the German Ifo for September will be the most notable release of the day. The index is expected to decline modestly from its current low level. In the United States, the Conference Board measure of consumer confidence is expected to improve somewhat. However, the figures are unlikely to alter the market.
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