Markets EUR/GBP spiked from 0.8325 to 0.8375 following September UK inflation numbers, but the euro isn’t strong enough these days to profit from GBP-weakness. Even as UK yields drop 8 bps (30-yr) to 11 bps (2-yr) across the curve. Headline inflation was flat in M/M-terms, resulting in the first sub-2% inflation print since April 2021. […]

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