The pound euro (GBP/EUR) exchange rate is rising for the second consecutive day.
The euro is under pressure after Trump warned that trade tariffs on European imports had been decided and would be announced soon. Trump added that the EU was “formed to screw the United States.”
Eurozone economic sentiment rose by more than expected to 96.3, up from 95.3 in January.
The pound is rising as PM Kier Starmer heads to the US to meet with President Trump to discuss security and a possible peace deal over Ukraine.
The UK is less likely to have trade tariffs applied due to the small US – UK trade deficit.