EUR/GBP traded around 0.8357, up 0.10 percent on the day, as falling oil prices supported the euro. Hopes for a diplomatic breakthrough between the United States and Iran eased fears of renewed strikes and pressured crude. West Texas Intermediate slipped toward $83 a barrel, its lowest since August 31, and has fallen 16 percent so far this month.
By our market data, EUR/USD stood at $1.1217 and GBP/USD at $1.3427 as of 12:36 GMT on 10 November.
Central banks weigh December moves
ECB Chief Economist Philip Lane told Bloomberg Television that euro-area inflation is expected to end the year a little above 4 percent. He said it would be prudent to hike in December if the data stay broadly unchanged.
Bank of England Deputy Governor Clare Lombardelli said she would not rule out a December rate hike. Equally, she said, she does not yet have enough information.
Sterling backdrop
The BoE raised its benchmark rate by 25 basis points to 4.00 percent at its November meeting, the first hike since 2023. The vote was 8-1, with one member favouring a 50-basis-point increase, Catherine Mann. The bank projects inflation near 5 percent by mid-2027.
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UK third-quarter GDP first estimate is due Thursday, and updated Eurozone GDP follows on Friday. France faces political uncertainty and budget challenges.
Related: Forint rebounds sharply against euro and dollar on Friday
Source: Bank of England | Data: Swissquote
