Pound euro exchange rate: GBP/EUR on the back foot despite shock slowdown in Eurozone GDP

At the time of writing the GBP/EUR exchange rate is trading around €1.123, having edged down from this morning’s opening levels despite some very underwhelming Eurozone growth figures. While the euro is holding steady against the pound so far this morning, the single currency is slumping in broader trade as markets react to the Eurozone’s latest GDP release.

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