euro-bank-notes - EUR

The pound euro (GBP/EUR) exchange rate is edging lower ahead of a busy day on the economic calendar.

The euro is slipping as investors look ahead to the release of Eurozone GDP and German inflation data. Eurozone GDP is expected to rise 0.2% QoQ in Q1, up from 0% in Q4 2022.

German CPI is forecast to ease to 7.3% from 7.4%. Strong growth and hot inflation could keep the ECB hawkish.

The pound rose yesterday and remains supported despite no economic data.

Goldman Sachs has upwardly revised its BoE peak rate to 5%, up from 4.25% currently.