Sterling rises against euro on French fiscal concerns
The euro dropped to a three-month low against sterling on Monday amid ongoing concerns over Frances fiscal outlook. Meanwhile, the British pound gained support from the governments commitment to fiscal discipline and tighter monetary policy expectations.
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Sterling hit a three-month high against the euro on Monday morning, dropping the single currency 0.41% to 84.60 pence. The sharpest decline since mid-July reflects growing fiscal pressures facing the eurozone. France's mounting budget deficit fears are driving divergence across European currency markets.
