The pound euro (GBP/EUR) exchange rate is edging lower after three straight days of gains but is still set to rise across the week.
The pound has been boosted this eke by optimism surrounding Rishi Sunal becoming the new UK prime minister and ending the chaos of Liz Truss’ leadership.
The euro fell yesterday after the ECB raised interest rates by 75 basis points, as forecast. ECB President Christine Lagarde sounded less hawkish, sending the euro lower.
Today attention is on the German inflation data which is expected to rise to 10.1% YoY in October up from 10%.