euro-bank-notes - EUR

The Pound Euro (GBP/EUR) exchange rate is ticking a few points higher after two days of gains.

The pound rose yesterday as investors continued digesting Boris Johnson’s win in the vote of no confidence.

US business activity also fell sharply in May, but not as sharply as initially feared. There is no high impacting UK data today.

The euro fell despite mixed data. German factory orders dropped -2.7% MoM, yet eurozone investor confidence rose by more than expected to -15.6.

Today attention turns to German industrial production and eurozone GDP data, which is expected to confirm the initial reading of 0.3% QoQ.