Euro Hits 10-Week Low vs Sterling as French-German Yield Gap Surges
Dow Jones
Yesterday
1142 GMT - The euro falls to a 10-week low against sterling as the spread between French and German government bond yields widened further. Sterling is also lifted by U.K. Prime Minister Andy Burnham promising to recast relations with the EU at a summit in November. Adding further support to sterling, an unexpected upward revision to U.K. second quarter economic growth earlier this week bolstered expectations for the Bank of England to raise interest rates. The euro falls to as low as 0.8501 pounds. The 10-year French-German yield gap rises to its highest level since November 2011 at 152.34 basis points, according to LSEG.
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