GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The pound euro (GBP/EUR) exchange rate is falling towards €1.15.

The euro is rising, recovering from a fall yesterday after inflation was downwardly revised to 0.6% MoM in April from 0.7%.

ECB President Christine Lagarde is due to speak later and any comments on inflation or monetary policy could drive the euro.

The pound is easing after gains yesterday. BoE Governor Andrew Bailey warned over persistently high inflation and said that the central bank is ready to hike rates as much as necessary to tame inflation.

There is no high impacting data due to be released from the UK.