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GBP vs EUR currency overview for 2nd November 2017
The Pound to Euro exchange rate dropped last week, as UK data disappointed and the Euro was supported by surprisingly strong Eurozone growth stats.
On Monday morning however, GBP/EUR advanced as the Euro broadly softened.
News that German Chancellor Angela Merkel’s coalition talks had fallen through caused investors to sell the shared currency.
Following four weeks of negotiations, the business-focused FDP Party pulled out of negotiations with Merkel’s CDU Party and the Green Party. Merkel will now meet with President Frank-Walter Steinmeier and the prospect of a snap election being called has caused panic in Eurozone markets.
This update is provided by TorFX, a leading foreign exchange broker. Click here for market leading GBP/EUR exchange rates
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