gbp-british-pound-coins - GBP

The Pound Euro (GBP/EUR) exchange rate is edging higher after 7 straight days of gains

The pound fell yesterday amid growing concerns over the health of the UK economy and the ability of the BoE to raise interest rates without tipping the UK economy into recession.

There is no high impacting UK data due to be released today.

The euro gained versus the pound but fell versus the US dollar amid nerves ahead of an announcement of the sixth sanction package against Russia, which could include some smart sanctions against Russian oil. Russia has threatened to cut gas to Poland and Bulgaria.

German consumer confidence data is due and is expected to decline to 16.3 down from 15.5.