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GBP/EUR: Pair edges higher towards €1.1775

The pound euro (GBP/EUR) exchange rate is edging higher after losses yesterday.

The pound fell after UK GDP rose to 0.2% MoM in August, after contracting -0.6% in July. The weak growth supports the view that the BoE may not hike rates further.

There is no high impacting UK economic data due to be released today.

The euro is falling ahead of eurozone industrial production data, which is expected to stall at 0.1% MoM in August, after falling -1.1% in July. Weak data could fuel concerns over a prolonged downturn.

ECB President Christine Lagarde is due to speak later today.

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