eur-bank-notes-magnifying-glass - EUR

The pound euro (GBP/EUR) exchange rate is rising for a third straight day.

The euro is falling despite German consumer confidence rising to -24.2 from -27.3, with earnings expectations and willingness to spend also rising.

The data adds to evidence that the eurozone’s largest economy is starting to recover. Still, the ECB is likely to remain on track to cut rates in June.

The pound continues to rise amid the improved outlook for the UK economy. The pound has continued to rise following the stronger-than-expected business activity data for April.

The BoE is expecting to see inflation fall sharply in April.