The pound euro (GBP/EUR) exchange rate is rising, snapping a two-day losing run.
The pound is pushing higher after GFK consumer confidence rose by more than expected to -38, up from -43.
BoE’s Catherine Mann also lifted the pound by saying that more rate hikes were needed.
German consumer confidence also improved rising to -30.5, up from -33.5 as energy prices fell and inflation cooled.
However, the German economy contracted by more than expected in Q4, shrinking -0.4% QoQ, more than the initial -0.2% forecast.
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