The pound-euro (GBP/EUR) exchange rate is falling after two days of gains.
The EUR is rising after the German IFO business climate improved to 86.9, up from 86.7. This was ahead of forecasts of 85.2.
However, the expectations element of the survey fell slightly to 87.4 from 87.7. This was still above the 85 forecast.
The pound is falling amid concerns over the risk to the UK economy from Trump’s trade tariffs.
Speaking at the IMF spring meeting, BoE Governor Andrew Bailey warned about the growth outlook. The BoE is expected to cut rates in May.
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