The European Central Bank's daily reference rate put the euro at 0.83825 pounds on 21 October, down from 0.84028 the previous day, a decline of about 0.24%; the figure is a once-daily value, not a live rate. The move came as UK annual CPI inflation rose to 3.5% in September from 3.1% in August, with motor fuel prices up 29.8% year on year and core CPI at 2.8%. FXStreet reported EUR/GBP near 0.8390 in early European trading and said a Bank of England rate increase at its next meeting was widely expected, though those intraday observations come from a different time. The BoE held Bank Rate at 3.75% at its September meeting, with Megan Greene, Catherine Mann and Huw Pill preferring a rise to 4%, and its next decision is due on 5 November.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: ECB Fixing Shows Euro Down 0 . 24 % Against Pound on Oct . 21
Read the original on econotimes.com ↗
Keywords
exchange rateseuropound sterlingECB
Open a keyword to see other news on the same topic.
Related news
- Euro slides to fresh lows against US dollar and British pound despite ECB rate hikes
The euro fell to its weakest level against the US dollar since mid-May 2025 and against the British pound since early June 2025, despite two ECB rate hikes this year. Drivers include an energy shock, France's debt crisis and a stronger dollar, which hit an 18-month high after US inflation rose to 3.7% in September, above forecasts. The euro traded at about $1.111 on Wednesday and was down more than 5% since late August. The ECB's deposit rate stands at 2.5% after a hike on 10 September, while eurozone inflation climbed to 3.8%, a three-year high. The spread between French and German 10-year yields rose above 150 basis points, the most since the euro debt crisis around 2011, as France's 2027 budget aims to save about €54 billion.
- Euro slides to fresh lows against US dollar and British pound despite ECB rate hikes
The euro fell to about $1.111 on Wednesday, its weakest against the US dollar since mid-May 2025, and to roughly £0.842 against the pound, its lowest since early June 2025, despite two ECB rate hikes this year. The slide reflects soaring energy costs, a bond market revolt over French public finances and a stronger dollar, after US inflation rose to 3.7% in September and the dollar index hit an 18-month high. The ECB's deposit rate is 2.5%, well below the Fed's 3.75-4%, while eurozone inflation has climbed to 3.8%. The spread on French 10-year debt over German 10-year debt rose above 150 basis points, the most since the euro debt crisis around 2011, as French public debt hit a record 119% of GDP. Traders expect the ECB to hold rates on 29 October before raising them again later in the year.
- Euro Falls Below 30,000 Dong
Euro prices at banks and on the free market kept falling, trading around 28,500–29,900 dong, the lowest level in 1.5 years. Vietcombank quoted a buying rate of about 28,500 dong and a selling rate above 29,700 dong, and the 30,000-dong threshold was broken a week earlier. The euro had been sold above 32,100 dong before the recent adjustment; the rate is now down 6% year-to-date and about 7% below the peak set in September 2025. The main pressure comes from interest rate differentials, with the Fed's target rate at 3.75–4% versus 2.5% for the ECB, along with concerns over France's public debt. The move makes travel costs in Europe cheaper, though the practical impact on trade may be limited since most international transactions are conducted in USD.
- EURGBP Hits New Multi-Month Low - ActionForex
- British Pound - to - Euro Forecast : French Riots Push GBP Above 1 . 19
GBP/EUR spiked to fresh 16-month highs just above 1.19 after violent French protests triggered euro selling, before easing to around 1.1880. Consensus expects UK headline inflation to rise to 3.4% from 3.1% and core inflation to 2.8% from 2.6%, and strong expectations point to a Bank of England rate increase to 4.00% at its November meeting. Bank of America's Sonali Punhani argues the bigger pickup in inflation is still ahead, while weaker-than-expected data would raise doubts about a hike. Deutsche Bank, ING and MUFG highlight France's political and fiscal risks, with MUFG noting that the probability of RN leader Le Pen becoming president has risen to around 48% on Polymarket and expecting these risks to weigh on the euro into next year. Investors are also watching the UK jobs report on Tuesday and inflation data on Wednesday.
- Sterling set for third weekly rise against euro , hits 3 - week high vs dollar
Sterling was on track for a third straight weekly gain against the euro, with the single currency under pressure after the French bond selloff at the start of the month. The pound hit its highest level against the dollar in more than three weeks on Friday and was set to end a four-week losing streak. Britain's economy beat forecasts in August, with a further jump in computer programming showing AI is boosting growth. Finance minister John Healey said his first budget, due October 29, would offer “a bit of breathing space.” According to LSEG data, markets expect the Bank of England to raise rates by 25 basis points at its November 5 meeting.
Related markets
Latest news
- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.