GBP/EUR: Gloomy Brexit News Weigh On Pound vs. Euro

The pound euro exchange rate is falling for a second day.

The euro is rising ahead of the ECB interest rate decision, where the central bank is expected to raise interest rates by either 0.5% or 0.75%.

A larger rate hike could help strengthen the euro further, but also increases the risk the region hearing into recession.

The pound trades under pressure after cautious comments from BoE governor Andrew Bailey over the outlook for the UK economy.

Today PM Liz Truss is expected to announce her energy support program, which could help slow inflation.