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

The pound euro (GBP/EUR) exchange rate is edging higher for a sixth straight day, pushing above €1.1425.

The pound has been boosted by optimism surrounding the health of the UK economy, amid signs that it could avoid a recession, boosting bets that the BoE could hike rates again.

UK services PMI for March showed expansion at 52.9.

The euro is easing despite stronger than expected German industrial production data, which jumped 2%. This comes following strong factory orders yesterday.

The German economy is expected to grow 0.3% this year, avoiding a recession.

There is no high impacting Eurozone data today. Tomorrow could see muted trade owing to the Easter public holiday.