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The pound euro (GBP/EUR) exchange rate trades higher, rising to a 3-week high.

The pound is back focused on the BoE as policymakers exit the blackout period. Huw Pill, the chief economist at the BoE, signaled lingering concerns over persistent inflation.

His comments come after Jonathan Haskel also warned about cutting rates too early at the start of the week.

The euro is struggling amid concerns over the political deadlock in France, the eurozone’s second-largest economy. Complex negotiations between parties will take place with the hope of forming a coalition government. However, this could take months.