GBP/EUR: Pound Hit Almost 2 Year High As Parliament Rejects No Deal

The pound euro exchange rate (GBP/EUR) is rising after three days of losses.

The euro is falling after eurozone inflation cooled by more than expected in March to 2.4% YoY, down from 2.6% in February. The data comes after weaker manufacturing PMI figures yesterday.

Data supports the view that the ECB could cut rates in June, which is in line with recent comments by ECB policymakers.

The pound is rising amid signs of a recovery in the housing market.

House prices rose 1.6% in March, up from 1.2% in February. Meanwhile, mortgage approvals also rose as affordability improved.