GBP/EUR: Gloomy Brexit News Weigh On Pound vs. Euro

The Pound Euro (GBP/EUR) exchange rate is edging a few pips higher after two days of losses.

The Pound edged lower yesterday as investors raise doubts over the BoE’s ability to hike interest rates again for fear of pushing the UK economy into recession.

There is no high impacting data due to be released today. Attention shifts to a speech by BoE Governor Andrew Bailey tomorrow.

The euro tiptoed higher despite the IMF slashing growth forecasts for Europe amid rising energy and food prices from the Russian war.

German PPI inflation data & Eurozone industrial production data is due. German PPI is expected to reach a record high.