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.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.