The Pound Euro (GBP/EUR) exchange rate rose strongly yesterday towards €1.1750 and the pair is steadying today.
The pound rose despite dismal GDP data with GDP stalling in February and contracting in March -0.1%. The data comes after the BoE warns of recession.
Brexit concerns linger as the British government threatened to scrap the Northern Ireland protocol.
The Euro was the worst performing currency yesterday, falling on recession fears and as tensions with Russia ramped up.
Today industrial production data and ECB’s De Guindos is due to speak.
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