The Pound Euro (GBP/EUR) exchange rate is falling lower on Thursday, after small gains yesterday.
The Pound is under pressure as attention turns towards the BoE interest rate decision.
The central bank is expected to hike intertest rates by 0.25% , the fourth straight meeting where rates will be lifted. However, concerns are growing over the economic outlook amid fears of a recession.
The euro is rising despite German factory orders plunging. Orders dropped -4.7% MoM in March amid the falloout from the Russian war and COVID lockdowns in China.
ECB’s Lane is due to speak later.