Analysts at Scotiabank explained that the pound is not experiencing the same support as the EUR versus the USD.
"Weekend press in the UK highlighted the leadership challenges facing PM May as Parliament returns this week to debate the EUR Withdrawal Bill, which formalises the transfer of EU legislation into UK law.
The prime minister is under pressure from opposition parties and various factions within the Conservatives. UK CPI data today showed no advance in the 3.0% rate of inflation for Oct over Sep’s outcome. Markets had forecast a rise to 3.1%, with the downside miss adding to pressure on the pound."
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