The pound euro (GBP/EUR) exchange rate is rising after two days of losses.
The EUR is falling amid rising trade tariff jitters ahead of Trump’s announcement tomorrow. The European Union is under the spotlight owing to its large trade surplus.
Eurozone inflation eased in line with expectations to 2.2% YoY from 2.3%, supporting the view that the ECB will cut rates again in April.
The pound is rising on hopes that the UK may be able to reverse any US trade tariffs through an economic deal. Downing Street and the White House are in close contact.
UK grocery inflation rose to 3.5% annually in March.
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