GBP/EUR Politics in France and UK Driving Exchange Rate

The Pound Euro (GBP/EUR) exchange rate is falling today, but is still on track for gains of 1.2% across the week.

The Euro has struggled this week despite hawkish minutes from the ECB meeting.

The currency could be starting to price in the risk of a far-right Marine Le Pen win in the French elections. The first round is this weekend followed by the second and final round on 24th April.

The Pound is struggling amid concerns that the BoE could send the UK into recession if it hikes rates too fast.

UK GDP is due to be released next week.