GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The Pound Euro (GBP/EUR) exchange rate is rising after two straight days of losses.

The Pound fell yesterday after BoE Governor Andrew Bailey noted that rising interest rates could result in unemployment rising and economic growth slowing.

There is no UK data due today. All eyes are on Ukraine.

The Euro trades lower after Russia invaded Ukraine, turning a diplomatic crisis into an invasion.

Europe is very reliant on Russia for energy. Fears that Russia could restrict energy supply, hurting growth in the eurozone, is dragging on the common currency.