The pound euro (GBP/EUR) exchange rate is rising for a second day.
The pound is pushing higher after UK data showed that the economy grew at double the pace expected in May. GDP was 0.4% MoM, up from 0% in April.
Bank of England policymakers have sounded more hawkish this week, which, combined with stronger growth, has resulted in the market pushing back BoE rate cut expectations to just 50/50.
The euro is heading lower after German inflation confirmed a fall to 2.2% YoY in June. The ECB reduced interest rates by 25 basis points in June but has not committed to further rate cuts.
French politics remain in focus as complex negotiations continue well as parties try to form a coalition government.
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