According to CoinMeta, options traders are betting that the euro against the pound will rebound after experiencing a historic sharp decline, believing that market concerns about French risks have been overestimated in the exchange rate. The risk reversal indicator for the euro against the pound has risen to its most bullish level since early October, indicating an increased demand for the euro to rise. Russell Investments' global foreign exchange and fixed income solutions strategy head, van, stated that the pessimism built into the market due to French risks is excessive. He pointed out that the resilience of the British economy has been fully reflected in the pound exchange rate, while the euro against the pound exchange rate has deviated from the reasonable levels implied by interest rate differences. Between September 25th and October 30th, the decline in the euro against the pound was among the largest in the past five years, within any 25-day trading window. October was the worst month for this currency pair since July 2022, and markets expect a possible technical correction. The main factors driving the decline in the euro include concerns about France's fiscal prospects and the resilience of the British economy.