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EUR/GBP rebounds to near 0.8485 after a nine-day slide

The British pound is steady-to-lower as traders await UK Finance Minister John Healey's first budget on October 28.

Reported · Written up by our desk · Major Pairs

EUR/GBP recovered some lost ground to around 0.8485 in early European trading on Thursday, snapping a nine-day losing streak, according to FXStreet.

The British pound edged lower against the euro amid UK fiscal risks, with markets set to watch Finance Minister John Healey's first budget on October 28.

FXStreet also cited reports that UK long-term borrowing costs hit their highest level since the 1990s last week, keeping attention on whether the budget shifts toward fiscal tightening.

On the euro side, the risk premium on French government debt climbed to its highest level since the eurozone debt crisis as traders favored safer German bonds over French paper.

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