The Pound Euro (GBP/EUR) exchange rate is pushing cautiously higher on Thursday.
The BoE is due to make its monetary policy announcement. No change in policy is expected. Investors will be keen to hear what the central bank makes of the UK economic outlook in light of the rapid vaccine rollout & supportive budget. The BoE’s stance towards rising bond yields will also be scrutinized.
The Euro pushed higher late in the day on Wednesday after a a more dovish than expected Fed.
Eurozone inflation data was inline with expectations rising 0.2% MoM and 0.9% YoY.
There is no high impacting Eurozone data today. Investors will focus on a speech by Christine Lagarde.