gbp-british-pound-coin - GBP

The Pound Euro (GBP/EUR) exchange rate is ticking a few pips lower but is still on track to book weekly gains in the region of 0.87%.

The Pound has found support across the week from rising inflation expectations amid the energy crisis, supply chain disruptions and labour market shortages.

The BoE will release its quarterly bulletin.

The Euro came under pressure yesterday after dismal German industrial production numbers. Output contracted by 4% MoM in August following a 1.3% rise in July. Expectations had been for a 0.4% decline. Supply chain disruptions appear to be holding back growth in Europe’s largest economy.