GBP/EUR: Brexit Hopes Keep Pound Elevated Above Euro

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.