The pound euro (GBP/EUR) exchange rate is falling after 3-days of gains.
The euro is rising ahead of the ECB interest rate decision where the central bank is expected to raise rates by 25 basis points to 3.75%. This will be the 9th straight rate hike.
With growth slowing but inflation still high the ECB’s guidance will be key.
The pound is drifting lower amid a quiet week for UK economic data. Attention will start turning towards the BoE interest rate decision next week where the central bank is expected to hike rates again to tame inflation which is still 4 times the central bank’s 2% target.
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