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GBP/EUR: Pair rises towards €1.20

gbp-british-pound-coins - GBP

The pound euro (GBP/EUR) is rising after losses in the previous session.

The euro has resumed its sell-off amid ongoing concerns that trade tariffs could harm the fragile economic recovery in the eurozone, forcing the ECB to cut rates more aggressively.

There is no economic data today. Attention is on eurozone GDP data and the ECB minutes tomorrow.

The pound is rising, recovering some of yesterday’s losses as investors continued digesting mixed UK jobs data, which saw unemployment rise, but wage growth remain sticky.

There was no UK economic data today. Attention turns to BoE governor Andrew Bailey who is due to speak tomorrow.

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