Lates News

As the yield spread between French and German government bonds widened further, the euro fell to a 10-week low against the pound. Sterling was also boosted by UK Prime Minister Andy Burnham's pledge to reshape relations with the EU at the November summit. An unexpected upward revision to UK second-quarter economic growth earlier this week also strengthened expectations for a Bank of England rate hike, providing further support for sterling. The euro fell to as low as 0.8501 against the pound. According to LSEG data, the yield spread between 10-year French and German government bonds rose to its highest level since November 2011, reaching 152.34 basis points.