GBP/EUR: Brexit Extension & EU Trade Tariffs In Focus

The pound euro (GBP/EUR) exchange rate is edging higher for a fourth straight day.

The euro fell again yesterday as recession fears and energy security concerns pull the euro lower.

Retail sales rebounded less than forecast at 0.2% MoM as high inflation changes consumer habits.

Warnings that Russia could cut gas supply are keeping European leaders on edge. This move would send the region into a deep recession.

Looking ahead the minutes from the latest ECB meeting will be in focus and could provide clues over how large the ECB is prepared to hike rates.

The pound is gaining despite Boris Johnson’s government falling apart. After 42 resignations his is still clinging to power and refuses to leave. He could hold a snap general election.