GBP/EUR: Pound Steadies After Heavy Fall vs. Euro As May Vows To Stay

The Pound Euro (GBP/EUR) exchange rate is extending losses for a second consecutive day.

The Pound shifted lower despite encouraging comment from the BoE Governor Andrew Bailey. He sees the UK economy returning to its pre-pandemic size by the end oft his year and expects inflation to push higher to 2% over the coming months.

Investors will now look ahead to the BoE monetary policy announcement on Thursday.

The Euro has been under pressure as covid cases are starting to rise again on the old continent and more lockdown restrictions are being applied.

German ZEW sentiment data is due to be released. Analysts are expecting an improvement in moral in March.