Pound Euro exchange rate: GBP/EUR falls as UK manufacturing drops to seven-year low

This afternoon, the Pound slipped against the Euro with the pairing currently trading at around €1.101. Today’s UK manufacturing PMI contributed to a weaker Pound, showing a slump of 47.4 in August and pointing to the steepest contraction since 2012. The data also revealed new orders tumbled at their fastest pace in seven years and business confidence sinking to a record low.

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