The pound euro (GBP/EUR) exchange rate is rising after a flat day yesterday.
The pound is rising despite a quiet economic calendar, boosted by the risk-on mood in the markets. Cooling US inflation has lifted risk sentiment across the globe.
The euro is falling despite upbeat data from the region. Data showed that the eurozone returned to growth in Q1, with GDP at 0.3%, up from -0.1% in Q4 2023.
Meanwhile, industrial production was stronger than expected at 0.6% MoM, raising some hopes that the recovery in the sector could be taking place.
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