GBP/EUR: Euro vs Pound Awaits ECB Address At End Of QE

The pound euro (GBP/EUR) exchange rate is heading higher for a second day, pushing above €1.1650.

The euro is falling ahead of the minutes of the December ECB meeting. These could be considered outdated given the number of ECB officials that have been speaking at WEF in Davos.

Christine Lagarde will speak again today and is expected to continue pushing back against early rate-cut bets.

The pound is rising, still supported by hotter-than-expected UK inflation data, which supports recent comments from the BoE governor that interest rates need to stay high for longer.

UK retail sales data is in focus tomorrow.