The pound euro (GBP/EUR) exchange rate is rising after two days of losses.
The euro is falling after German GFK consumer confidence was weaker than expected. Consumer confidence fell to -24.7, down from -22.4 and defying expectations of a rise to -21.
The deterioration comes despite the German elections as Chancellor Freidrich Merz holds talks to form a coalition government.
The pound is rising amid a quiet economic calendar and as attention turns to a speech by BoE’s Swati Dhingra. Dhingra is one of the more dovish BoE policymakers.