GBP/EUR: Pound Rallies vs. Euro As No-Deal Threat Diminishes

The pound euro (GBP/EUR) exchange rate is rising for a third day.

The pound drifted higher yesterday  in a data light day which saw investors look towards PM Sunak for clues over new terms for the Northern Ireland.

Attention now turns to UK composite PMI which is expected to rise to 48.7, up from 48.5 in January.

The euro fell yesterday despite an improvement in consumer confidence which rose to -19, from -21.9, the highest level in 5 months.

Eurozone PMI data is due and is expected to show stronger growth in February, with the composite PMI rising to 50.6 from 50.3.

Germann ZEW economic sentiment is also expected to improve to 22, up from 16.9.