The Pound Euro (GBP/EUR) exchange rate is treading water around €1.1650 at the end of the week. The pair is set end the week just 0.1% higher.
The Pound is treading water in muted trade amid a quiet economic calendar. There has been little new data this week for investors to sink their teeth into. Concerns over supply chain issues and the impact on the economic recovery have lingered.
The Euro is also holding steady. The common currency advanced in the previous session despite the minutes from the latest ECB meeting suggesting that the central bank wasn’t ready to start tapering support yet.
All eyes are on Fed Chair Powell’s speech which could drive the greenback and the Euro which trades inversely to the US Dollar.