eur-bank-notes-magnifying-glass - EUR

The pound euro exchange rate (GBP/EUR) is edging higher on Tuesday.

The pound is rising after the BoE noted in its Financial Stability Report that households and businesses were resilient to high-interest rates.

The BoE left rates at 5.25%, a 15-year high last week as inflation cools towards the target 2% level.

The euro is struggling despite eurozone consumer confidence and Spanish inflation rising.

Spanish inflation rose 0.8% MoM in March, up from 0.4% in Februaruy lifted by the tourism boom.

Eurozone consumer confidence ticked higher to -14.9 from -15.5 despite signs of the economy stagnating.