GBP/EUR: Euro vs Pound Awaits ECB Address At End Of QE

The pound euro (GBP/EUR) exchange rate has risen towards €1.1850, its highest level since August 2022.

The euro has slumped after the European elections at the weekend, which resulted in a snap election in France, creating political uncertainty.

This comes after the ECB cut interest rates last week for the first time in 5 years but failed to commit to a path for future rate cuts.

The pound is drifting higher amid a lack of fresh catalysts. The economic calendar is quiet and the BoE officials have canceled speeches until after the election.

UK jobs data is due tomorrow.