GBP/EUR: Pound Hit Almost 2 Year High As Parliament Rejects No Deal

The pound euro (GBP/EUR) exchange rate is rising snapping a two-day losing streak.

The pound is pushing higher despite UK GDP stalling at 0% MoM in February, below the 0.1% growth forecast and down from 0.3% in January. Strikes held back the economy, with education output dropping -1.7%.

The euro is under pressure amid rising expectations that the ECB could slow the pace of rate hikes at the May meeting to 25 basis points.

German inflation cooled to 7.4% YoY in March, in line for the preliminary reading.

Eurozone industrial output is expected to rise 1% MoM in February down from 0.7% in January.