The Pound Euro (GBP/EUR) exchange rate held steady in the previous session around $1.1730 as investors looked ahead to today’s Bank of England rate decision.
No change in interest rate is expected and asset purchases are expected to remain at £895 billion until the end of the year.
The quarterly inflation report will be in focus with the central bank likely to increase its inflation outlook but potentially down grade its GDP outlook owing to rising covid cases.
The Euro, meanwhile, looks to German factory orders for inspiration. Orders are expected to rise 1.5% MoM after falling -3.7% in May.
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