GBP/USD: Pound Firm Ahead Of Vote of No Confidence

The Pound Euro (GBP/EUR) exchange rate is rebounding from a 7 week low reached in the previous session.

The Pound drifted lower following disappointing GDP data. The UK economy grew 0.4% in February, a decent rebound from the -2.2% contraction in January, but still short of the 0.6% growth forecast.

There is no high impact data today so sentiment is likely to be the key driver in addition to vaccine developments following the US Johnson and Johnson shock.

The Euro received a boost from a weaker US Dollar, which helped overshadow an unexpected fall in German investor sentiment.

Eurozone Industrial production and ECB’s Lagarde in focus.