The pound euro (GBP/EUR) exchange rate is falling, snapping a three-day winning run.
The euro is looking to the ECB rate decision, where the central bank is expected to leave rates on hold. Instead, the focus will be on ECB President Christine Lagarde’s speech, where she could continue to push back against rate-cut bets.
German IFO business climate unexpectedly fell in January to 85.2 from 86.3.
The pound was drifting lower after the IFS warned over a possible tax cut and said that the next government would face the toughest fiscal challenges since the 1950s amid slowing growth and difficult spending decisions.
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