GBP/EUR: Gloomy Brexit News Weigh On Pound vs. Euro

The Pound Euro (GBP/EUR) exchange rate is edging higher towards €1.20 again.

The Pound rose to a 23-month high versus the euro after inflation date jumped to 5.4%, up from 5.1% in November.

The British government also called the end of working from home as Omicron cases continued to fall. This is good news for retailers, bars and restaurants in the city centre and therefore a positive for the UK economy.

The Euro showed resilience yesterday after German inflation was confirmed at 5.3% YoY, the highest level since 1993.

Inflation will remain in focus today with the release of both German wholesale inflation, PPI and Eurozone consumer inflation CPI.