The pound euro (GBP/EUR) exchange rate is holding steady above €1.1350, after gains yesterday
The pound pushed higher yesterday despite wholesale inflation cooling. PPI fell to 12.4% YoY, down from 13% and below forecasts of 13.9%, pointing to cooling consumer inflation.
There is no high-impacting data today or tomorrow, so attention could turn to the BoE rate decision next week.
The euro came under pressure yesterday as geopolitical tensions with Russia rose and despite improving German business morale.
The German IFO business climate rose to 90.2 up from 88.6, indicating that a recession could be milder than feared.
There is no major data due to be released today. Attention will turn to the ECB rate decision next week.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
