The post EUR/GBP hits fresh lows near 0.8630 after France’s debt downgrade appeared on BitcoinEthereumNews.com. The Euro gives away gains, hit by the downgrade of France’s sovereign debt. On Friday, UK manufacturing production and GDP data raised concerns about an economic downturn. On Tuesday, UK Unemployment data might add pressure on the BoE to ease monetary policy further. The Euro gave away gains from the previous two trading days on Monday, extending its reversal from Friday’s high above 0.8660 to a fresh two-week low at 0.8632, weighed by Fitch’s downgrade of France’s sovereign ratings. The ratings agency announced over the weekend its decision to cut the ranking of France’s debt to A+, its lowest level on record, as the political crisis weakens the country’s ability to implement the necessary measures to avoid further escalation of its ballooning debt. France is grappling with an unstable political situation, as President Macron just named Sebastien Lecornu, the third Prime Minister of his term. Lecornu replaces François Bayrou, who was toppled after a plan to reduce spending was refused by the parliament. The pair, however, is failing to capitalise on the Euro downtrend, facing weaknesses of its own. The sharp contraction in July’s manufacturing production brought July’s GDP to stagnation levels. The BoE is meeting on Thursday and is widely expected to leave its Repo Rate on hold at the current 4% but further evidence of an economic downturn –Unemployment levels are out on Tuesday– is likely to boost hopes of more rate cuts to come and might increase pressure on the Sterling. Source: https://www.fxstreet.com/news/eur-gbp-hits-fresh-lows-near-08630-after-frances-debt-downgrade-202509151150The post EUR/GBP hits fresh lows near 0.8630 after France’s debt downgrade appeared on BitcoinEthereumNews.com. The Euro gives away gains, hit by the downgrade of France’s sovereign debt. On Friday, UK manufacturing production and GDP data raised concerns about an economic downturn. On Tuesday, UK Unemployment data might add pressure on the BoE to ease monetary policy further. The Euro gave away gains from the previous two trading days on Monday, extending its reversal from Friday’s high above 0.8660 to a fresh two-week low at 0.8632, weighed by Fitch’s downgrade of France’s sovereign ratings. The ratings agency announced over the weekend its decision to cut the ranking of France’s debt to A+, its lowest level on record, as the political crisis weakens the country’s ability to implement the necessary measures to avoid further escalation of its ballooning debt. France is grappling with an unstable political situation, as President Macron just named Sebastien Lecornu, the third Prime Minister of his term. Lecornu replaces François Bayrou, who was toppled after a plan to reduce spending was refused by the parliament. The pair, however, is failing to capitalise on the Euro downtrend, facing weaknesses of its own. The sharp contraction in July’s manufacturing production brought July’s GDP to stagnation levels. The BoE is meeting on Thursday and is widely expected to leave its Repo Rate on hold at the current 4% but further evidence of an economic downturn –Unemployment levels are out on Tuesday– is likely to boost hopes of more rate cuts to come and might increase pressure on the Sterling. Source: https://www.fxstreet.com/news/eur-gbp-hits-fresh-lows-near-08630-after-frances-debt-downgrade-202509151150