Live Stocks are getting clobbered as Trump's China trade war intensifies. See the latest. CCY - Delayed Quote • GBP EUR/GBP (EURGBP=X) Follow 0.8658 +0.0120 +(1.41%) As of 5:23:46 PM GMT+1. Market Open. All News Challenges for the Pound After Inflation and GDP Edge Down Despite a generally strong job report, the pound has held close to recent lows. Sterling slumps to new low; gilt yields soar Higher bond yields would usually support the country’s currency, but there are fears that the rising costs needed to support UK government debt could lead to further tax increases or spending cuts, hindering the chances of an economic recovery. Markets "continue to function in an orderly way" and movements in government borrowing costs were being driven by "a wide range of international and domestic factors," he added. Further Losses for the Euro After the ECB Cuts Rates as Expected Inflation below target suggests that the cycle of loosening will probably continue up to summer 2025. European and US stocks down as Wall Street turns attention to Fed US traders are looking to the Federal Reserve's interest rate decision, as well as key inflation data later on in the week.