GBP/EUR: Pound Steady vs. Euro As Angela Merkel Steps Down

The pound euro (GBP/EUR) exchange rate is edging higher but is set for a flat end to the week.

The euro is falling after German industrial production fell -2.4% MoM after rising 1.7% in June.

Eurozone Q2 GDP was also revised lower to 0.2% QoQ, down from 0.3% in the preliminary reading.

The ECB is expected to cut interest rates next week.

The pound is inching higher but is unchanged on the week after 4 straight weeks of gains.

A report today suggests the UK needs £1 trillion in investment to grow its GDP.

PM Sir Kier Starmer put growth at the centre of his election campaign.