Euro and pound fall to two-week lows, supported by upward revision of UK Q2 GDP

1. In early European trading on Wednesday, the euro against the pound once fell to 0.8550, a drop of about 0.21%, as the UK's Q2 GDP growth rate was revised up to 0.5%, boosting the pound. This level is the lowest since September 15, with the low that day at 0.8545. Tuesday's trading range was 0.8565 to 0.8585.2. UK Prime Minister Burnham stated that the UK should weigh various options related to the EU, including rejoining the EU.3. Taylor, a dovish member of the Bank of England's Monetary Policy Committee, believes the reasons for the Bank of England to raise interest rates are "not sufficient enough."4. The market currently expects there is an 80% probability that the Bank of England will raise interest rates in November.