GBP/EUR: Pound Shakey vs. Euro Ahead of Brexit Bill Debate

The pound euro (GBP/EUR) exchange rate is rising, adding to last week’s gains.

The EUR is slumping on trade tariff fears after Trump announced trade tariffs on Mexico, Canada, and China over the weekend. He also wanted the European Union to be next.

Eurozone inflation rose to 2.5% YoY from 2.4% in December. Core CPI held at 2.7%.

The pound is rising against the EUR but falling against the USD. UK manufacturing PMI was 48.3in January, in contraction, although slightly up from the preliminary 48.2.

The BoE rate decision is on Thursday, and the central bank is expected to cut rates.