gbp-british-pound-coins - GBP

The Pound Euro (GBP/EUR) exchange rate is heading higher on Wednesday after three days of decline.

The pound is rising despite Brexit woes and Scottish independence concerns lingering and despite ongoing concerns over the UK economy.

BoE’s Andrew Bailey is due to speak as the economy faces surging inflation and recession risks.

The euro rose yesterday despite German consumer confidence falling to a record low of 27.4 as inflation rises and recession fears grow.

German inflation data is due shortly and is expected to rise to a new record high of 8.8% YoY.

ECB’s Lagarde is also due to speak, after hawkish comments yesterday, hinting a larger rate hikes after July.