Pound Euro(GBP/EUR) Exchange Rate Falls

A rising revision to the third quarter’s French gross domestic product pushed the Pound to Euro (GBP/EUR) exchange rate lower. Since the growth rate was elevated from an initial estimate of 18.2% to 18.7%, this motivated investors to favor the Euro (EUR) over its rival. The sole currency also profited from a smaller-than-expected decline in the Eurozone economic sentiment index for November. As sentiment only weakened to 87.6, rather than the 86.5 forecast, this helped to support the EUR exchange rates across the board on Friday. Although indications still point towards sentiment across the currency union decreasing throughout the fourth quarter, adding to the odds of a near growth contraction, the state of mind towards the Euro nevertheless improved.