Sterling stays near 16-month high against euro as budget, BoE draw focus

Sterling stayed near a 16-month high against the euro.

Sterling is the UK currency, and the euro is used in many European countries.

The pound-euro exchange rate remained elevated compared with its level over the past 16 months.

The UK budget and Bank of England were in focus as attention turned to factors that could affect sterling.

The budget and the central bank are both part of the UK’s economic outlook.

No specific next decision or market move was given.