The Pound Euro (GBP/EUR) exchange rate is rising for a fourth straight session and trades well above €1.20.

The Pound rose yesterday despite UK public sector net borrowing coming in at £13.1 billion, well ahead of the £8 billion forecast.

UK inflation data is now due and is expected to be 5.9% YoY, this comes ahead of the Chancellor’s Spring Budget, where some measures are expected to be announced to help struggling households.

The euro fell yesterday even though ECB policymakers are less concerned over stagflation.

Eurozone consumer confidence is expected to fall in March to -12.3, down from -8.8 amid higher energy prices.