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Solid Gains In Sterling Against The Euro Puts The 2023 High In Sight
The Euro to Pound (EUR/GBP) exchange rate is approaching the 2023 lows. Markets expect the BoE to cut rates later and less than the ECB. The first full week of December is underway and traders are still reflecting on one of the most eventful Novembers of recent times. Goldman Sachs pointed out "the month of November saw the largest easing in US financial conditions of any single month in the past four decades." The S&P500 closed higher by 8.9% while yields dropped sharply as rapidly falling inflation readings prompted speculation rate cuts. Rate cuts expectations have been highest in the US and the EU with around ... (full story)