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GBP/EUR is sliding as UK–German 2-year bond dynamics turn against sterling, pushing the pair to fresh 29-month lows. 📉

Pound down 0.40% on the day to 1.1348 , marking fresh 29-month lows view live rate . 🌐

Sterling weakness is broad-based across major peers and has intensified over the past 48 hours. 📊

UK 2-year yield has fallen to 3.766% while Germany’s 2-year has risen toward 1.978% , narrowing the UK–DE spread.

Driving the news

The clue lies with falling short-dated bond yields in the UK relative to Germany.

For currency markets, it is the change in yields that matters – when UK yields fall faster than German yields, the spread c

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