The euro lost ground against the British pound on Friday tumbling to the lowest value since August 2022.
The move comes as the European Central Bank (ECB) and the Bank of England (BoE) choose slightly different monetary policy paths. While the ECB decided to lower its interest rates by a quarter of a percentage point at the September meeting, the BoE preferred to keep its rates steady.
The European Union currency traded 0.25% lower against the pound at 9:15 am CET, changing hands for 0.83802. Meanwhile, the pound added 0.37% against the dollar at 9:25 am CET, going for 1.33320.
