The pound euro (GBP/EUR) exchange rate rises towards €1.17, as it hovers around its highest level in 2 years.
The pound is rising after hawkish comments from BoE’s Jonathon Haskel who warned more rate hikes could bee needed.
The BoE is widely expected to hike interest rates next week by a further 25 bps.
The euro trades lower despite the ECB are expected to raise interest rates by 25 bps this week. With inflation cooling quicker than expected there are doubts over hoe many more rate hikes will be needed.
There is no high impacting eurozone data due today. German ZEW economic sentiment data is due tomorrow.