The pound euro (GBP/EUR) exchange rate is falling away from €1.17, after gains yesterday,
The euro has pushed higher after consumer confidence rose in February to -15.5, up from -16.1.
The data comes after German GFK consumer confidence rose to -29, up from -29.7, as wage growth expectations hit a 2-year high.
The pound rose yesterday after BoE’s Deputy Governor pushed back on rate cuts, saying he needs more evidence of inflation cooling before loosening monetary policy.
Today a lack of fresh catalysts sees GBP drift lower.
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