The pound euro exchange rte is rising above €1.15 and is set to book gains across the week.
The pound is extending gains for a second straight day after stronger than expected services PMI figures yesterday which showed sticky inflation.
The market has pushed back bets for the first BoE rate cut and expects 60 basis point cuts in 2024 down from 1% last week.
EUR is falling after German GDP contracted -0.1% QoQ in Q3 down from 0.1% in Q2.
German IFO business climate index rose for a second straight month to 87.3 up from 86.0. This was below the 87.5 forecast.
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