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Euro sags against sterling after eurozone inflation cools

11/30/2022 | 05:14am EST
FILE PHOTO: A shopper pays with a ten Euro bank note at a local market in Nice

LONDON (Reuters) - The euro retreated against the pound on Wednesday after data showed euro zone inflation cooled off by more than expected in November, reinforcing the case for a slowdown in European Central Bank rate hikes next month.

Consumer prices in the 19 countries sharing the euro grew by 10.0% after a 10.6% increase in October, well below expectations for 10.4% in a Reuters poll of analysts.

The euro fell 0.25% to a session low of 86.23 pence against the pound, but broadly held on to its gains versus the dollar, rising 0.36% on the day to $1.0365, showing little change on pre-data levels.

Euro zone government bonds were little changed, with the German 10-year yield last up 3 basis points at 1.944%, while European stocks built modestly on the day's gains, rising 0.6%.

(Reporting by Amanda Cooper and Harry Robertson in London and Danilo Masoni in Milan; Editing by Dhara Ranasinghe)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.00% 0.6411 Delayed Quote.1.90%
BRITISH POUND / EURO (GBP/EUR) 0.01% 1.1163 Delayed Quote.-0.83%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.2053 Delayed Quote.1.04%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.09% 0.691238 Delayed Quote.-0.16%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.09% 0.7454 Delayed Quote.1.68%
EURO / US DOLLAR (EUR/USD) 0.00% 1.0793 Delayed Quote.1.89%
INDIAN RUPEE / EURO (INR/EUR) 0.51% 0.011231 Delayed Quote.-1.08%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.30% 0.012168 Delayed Quote.0.82%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -2.31% 0.63245 Delayed Quote.1.98%
US DOLLAR / EURO (USD/EUR) 0.00% 0.926526 Delayed Quote.-1.86%
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