The pound euro (GBP/EUR) exchange rate is holding steady below €1.14 after two days of gains.
The pound found support yesterday from Brexit optimism as UK treasury secretary & the Irish finance minister enjoyed constructive talks. Investors shrugged off declining CBI sales volume data.
With no high-impacting UK releases today, attention will shift to next week’s BoE rate decision.
The euro has been pulled lower by escalating geopolitical tension with Russia.
Today Spain’s GDP data is expected to hold steady at 0.1% and French consumer confidence is expected to rise to 83 from 82.
The ECB rate announcement is next week and is policymakers are expected to hike rates by 50 basis points.