euro-bank-notes - EUR

The pound euro (GBP/EUR) exchange rate is rising for a third straight session, taking it to €1.18.

The pound is pushing high despite on going political uncertainty as the Conservative leadership battle continues.

UK earnings have been mixed with Unilever upwardly revising guidance but easyJet announced a big hit from cancellations and delays.

The euro trades under pressure amid fears over energy security after Russian state owned Gazprom said it will cut gas supplies to Europe on Wednesday for what they are calling a technical issue.

This comes after data yesterday showed that German business sentiment tumbled and the eurozone’s largest economy is on the brink of recession.