The pound euro (GBP/EUR) exchange rate is holding steady just below €1.1650.
The euro saw some volatility earlier surrounding the ECB rate decision but has since quietened down.
The ECB hiked rates by 25 basis points to a record 4%, but they were clear this was the end of the hiking cycle.
The pound has traded under pressure versus the USD but appears well matched against the euro.
Weak UK economic data raises the prospect that the BoE is also close to the end of its hiking cycle.
The BoE meet next week to announce their rate decision.
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