Sterling edged up to a fresh 17-month high versus the euro on Friday, on track for its fourth straight weekly rise, after UK data provided mixed signals about the British economy. The preliminary S&P Global UK Composite Purchasing Managers' Index rose to 53.1 in October, higher than economists’ forecasts and up from September's 52.0. Conversely, British consumers reined in their shopping in September, while separate data showed confidence levels plunged in October. The euro was roughly unchanged at 83.70 pence after reaching 83.62 pence, the lowest level since May 2025. BofA said that not all bets against the euro offer the same opportunity, arguing the euro/pound is better priced and that it favours euro/yen and euro/Canadian dollar shorts. Fears of new social unrest in France and elevated energy prices weighed on the single currency while strong UK data and easing fiscal concerns have recently lent support to the pound. British Prime Minister Andy Burnham said on Friday his...
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