The pound euro (GBP/EUR) exchange rate is rising for a second day towards €1.20.
The pound is rising despite British Retail Consortium data showing that retail sales fell to the lowest level in 8-months.
The data comes ahead of Chancellor Rachel Reeves Spring Statement tomorrow where she is expected to cut growth forecasts to 1% for 2025 from 2% and announce 10,000 civil service job cuts.
The EUR is falling despite German IFO business climate improving to 86.7 in March as businesses see a brighter outlook.
Q1 GDP is expected to rise 0.2% after contracting -0.2 % in Q4 2025.