The Pound Euro (GBP/EUR) exchange rate is holding steady on Friday, but trades 0.3% higher across the week, marking its second straight week of gains.
The Pound is being supported by strong retail sales data. Sales rose 1.9% MoM in January as Omicron fears eased. This was up from -3.7%.
The Euro is being supported by easing fears of a Russian invasion into Ukraine, at least for now, as the US secretary of state and Russia’s foreign minister agree to meet next week.
Eurozone consumer confidence data is due to show an improvement in February to -8.
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